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Bulawayo High Court
Central African Building Society v Belinda Rindai Musodza
HB 183/19
Case Details
Court
Bulawayo High Court
Date
5 December 2019
Citation
HB 183/19
Neutral Citation
[2019] ZWHB 183
Outcome
unknown
Case Type
Trial
Bench
Presiding
TAKUVA J
Full Bench
TAKUVA J
Areas of Law
Banking LawProperty LawContract Law
Keywords
mortgageloan defaultinterest calculationinsurance premiumsexecution of property
Tags
mortgage bondloan agreementforeclosurein duplum ruleusurious interest
legislation
Statutes Cited
- Civil Evidence Act
- Civil Evidence Act
- Civil Evidence Act
ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether defendant is indebted to plaintiff in sum of US$20,526.61 plus interest at 15% per annum","issue_type":"mixed","dispositive":"yes","related_facts":"Loan agreement, default in payments, insurance premiums added to account"}
- {"issue_text":"Whether plaintiff charged usurious interest rate","issue_type":"law","dispositive":"no","related_facts":"15% interest rate charged, interest capitalized monthly"}
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background
Facts of the Case
Background
The plaintiff financial institution lent the defendant money secured by a mortgage bond over her property. The defendant defaulted on repayments from June 2011, leading to accumulation of arrears. The plaintiff instituted proceedings claiming the outstanding balance of US$20,526.61 plus interest. The defendant disputed the amount claimed, alleging usurious interest and that she had already paid the capital amount.
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