The Plaintiff’s Case:
The plaintiff’s case that on the 16th July, 2019, the defendant by virtue of being a member of the plaintiff association obtained a loan of UGX. 1,500,000/= payable in a “short” period of time. That the defendant agreed to pay back the principal sum together with a monthly 10% interest totaling UGX. 150,000/=. That the defendant, however paid only 1,050,000/= only, being interest for 7 months and she has since defaulted for a total of 56 months accumulating the interest to 8,400,000/= as at the time of filing the suit.
Defendant’s case:
The defendant admitted that she had always borrowed money from the plaintiff and paid it back. That on 16th July, 2019, she borrowed 1,000,000/= but the plaintiff only disbursed 850,000/= and retaining 150,000/= to pay off the old debt. That they agreed that a member who takes a loan, they would stop computing interest in October and that she knows that the money had accumulated to 1,300,000/=. That is, 1,000,000/= as principal sum and 100,000/= per month for 3 months as interest.
FULL JUDGEMENT:
Download Here: 2.OLOK_UNITED_SAVINGS_VS_NAKIRYA_MARY (FINAL)