Development Finance Company of Kenya Limited & 2 others v Wino Industries Limited [1995] KECA 122 (KLR)
- Court
- Court of Appeal
- Case number
- 122
- Citation
- [1995] KECA 122 (KLR)
- Decided
- 20 December 1995
AI Summary
Beta
Machine-generated — may contain errors. Not legal advice.
TypeCivil AppealPostureAppeal from a judgment of the High CourtCoramJ.M Gachuhi, R.O Kwach, A.A Lakha
Holding
The appeal is dismissed with costs, and the counter-claim is dismissed with costs.
Facts
Wino Industries Ltd filed a suit against Development Finance Company of Kenya Ltd and its receivers, seeking a declaration that Wino had fully repaid all monies legally due under two loan agreements. DFCK and the receivers contested the view that the loans were given and repaid in Kenya shillings.
Issues
- Construction of loan agreements
- Currency of account
- Estoppel
Reasoning
The court found that the loans were denominated in foreign currencies and repaid in their equivalent in Kenya shillings, and that the respondents were estopped from denying the foreign currency nature of the loans.
Outcome
Appeal dismissed
Orders
- Order dismissing the counter-claim with costs
Experimental AI summary generated by a language model, not a lawyer. It may contain errors or omissions and must not be relied on for legal decisions — the full judgment below is the authoritative source.
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