Ndungu Mbugua v Benson Irungu Mbaria [2020] KEHC 6164 (KLR)
- Court
- High Court of Kenya
- Case number
- 6164
- Citation
- [2020] KEHC 6164 (KLR)
- Decided
- 29 April 2020
The court found that there is a valid contract between the parties, and the Defendant breached the contract by not paying the balance of the purchase price.
Facts
The Plaintiff and Defendant were shareholders and directors of Afrodane Limited. They agreed to sell the Company's shares and assets for Kshs. 140,000,000 and Kshs. 70,000,000 respectively. The Defendant offered to buy all the shares for Kshs. 70,000,000.
Issues
- Whether there is a valid contract between the parties
- If so, what are the terms and conditions thereof
- Did each party perform its contractual obligation or did any party breach the contract
- Has each party proved its case on the required standard and/or should the court grant the prayers sought by either party
- Who bear the costs
Reasoning
The court considered the evidence and found that the Defendant offered to buy all the shares for Kshs. 70,000,000, and the Plaintiff sold his shares for Kshs. 16,910,737. The court ruled that the Defendant breached the contract by not paying the balance.
Outcome
The court ordered the Defendant to pay the Plaintiff Kshs. 8,614,057 and interest.
Orders
- The Defendant to pay the Plaintiff Kshs. 8,614,057 and interest
Remedies
- Payment of Kshs. 8,614,057 and interest
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