High Court · [2016] ZMHC 213 · 21 December 2016

Bomach Finance Limited v Mulenga (HPC 161 of 2016) [2016] ZMHC 213 (21 December 2016)

Deposit of title deeds created an equitable mortgage; compound or penal interest unenforceable absent express agreement. Flynote Banking law; equitable mortgage by deposit of title deeds; absence of legal mortgage gives equitable mortgage only; compound/penal interest unenforceable absent agreement; foreclosure (not power of sale) available; recalculation of interest at agreed contractual rate. Read full summary

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