Angel Musonda vs Pulse Finance Service Limited Court Of Appeal No 132 /2017
Update: 2020-06-07
Description
This was an appeal from the Judgement of the High Court for Zambia that the Plaintiff having defaulted on the Loan agreement between itself and the Defendant . The Plaintiff therefore owed an outstanding amount of ZMW 36,642.71 and that the Defendant was within it's Contractual lane when it sold the Truck that had been placed as security for a Loan argreement of ZMW 45,000.00.
According to the brief facts , Angel Musonda (The Appellant) had entered into a Loan argeement with Pulse Finance Services Limited (The Respondent) and had agreed to pay back the money in a period of 36 months .However, The Appellant seriously defaulted on her loan agreement and the Respondent seized the Truck and sold it for ZMW 20,000.00 so it could cover it's money . The Respondent got ZMW 17,000.00
The Appellant brought this matter to Court on the premise that it's was illegal for the Respondent to have sold the Truck as a result this lead to damages to the Appellant's business life , Angel Musonda therefore want the Court to order the Respondent to pay him damages to this effect .
Music by Bensound ..
According to the brief facts , Angel Musonda (The Appellant) had entered into a Loan argeement with Pulse Finance Services Limited (The Respondent) and had agreed to pay back the money in a period of 36 months .However, The Appellant seriously defaulted on her loan agreement and the Respondent seized the Truck and sold it for ZMW 20,000.00 so it could cover it's money . The Respondent got ZMW 17,000.00
The Appellant brought this matter to Court on the premise that it's was illegal for the Respondent to have sold the Truck as a result this lead to damages to the Appellant's business life , Angel Musonda therefore want the Court to order the Respondent to pay him damages to this effect .
Music by Bensound ..
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