Banking & Finance

Malawi · 2024

Principle established: A court may refuse or discharge an injunction where the claimant has failed to disclose material facts or has misled the court regarding related pending criminal proceedings.

Sierra Leone — Court of Appeal · 1972

Principle established: An equitable mortgagee by deposit of title deeds accompanied by an agreement to execute a legal mortgage is entitled to foreclosure, and the court may appoint a receiver where just and convenient.

Sierra Leone — Court of Appeal · 1972

Principle established: An equitable mortgagee by deposit of title deeds with an agreement to execute a legal mortgage is entitled to foreclosure, and a receiver may be appointed where just and convenient.

Sierra Leone — African Law Reports · 1972-73

Principle established: An equitable mortgagee by deposit of title deeds accompanied by an agreement to execute a legal mortgage has a right of foreclosure, and a court may appoint a receiver where just and convenient.

Malawi · 2024

Principle established: An application for stay of execution pending appeal may be brought before the Supreme Court following the dismissal of a similar application in the High Court.

Sierra Leone — African Law Reports · 1920-36

Principle established: Excessive interest in a money-lending transaction justifies statutory intervention unless the lender proves the transaction is not harsh and unconscionable.

Sierra Leone — Court of Appeal · 2019

Principle established: An applicant seeking a stay of execution pending appeal must demonstrate that the appeal is arguable and that the stay is necessary to prevent the appeal from being rendered nugatory.

Sierra Leone — Court of Appeal · 2016

Principle established: The full Court of Appeal may review and reverse the decision of a single Justice of Appeal who struck out a notice of appeal for being filed out of time.

Sierra Leone — Court of Appeal · 2016

Principle established: A review of a single Justice's decision by a full panel is generally limited to instances where the single Justice committed an error of law in their ruling.

Sierra Leone — African Law Reports · 1920-36

Principle established: A surety is immediately liable upon the principal debtor's default without requiring prior notice, previous action against the principal, or simultaneous action against co-sureties.

Sierra Leone — Court of Appeal · 2017

Principle established: A defendant may be refused leave to defend and summary judgment granted to the plaintiff where there is no triable issue regarding the recovery of sums due under a contract.

United Kingdom · 1963

Principle established: A duty of care exists for negligent misstatements causing pure economic loss where a special relationship and assumption of responsibility exist, unless effectively disclaimed.

Sierra Leone — African Law Reports · 1970-71

Principle established: An insurance clause requiring all due and proper precaution for the safety of money in transit necessitates continuous minute-to-minute supervision, and transit ceases upon unauthorized deviation before delivery.

Sierra Leone — Court of Appeal · 1970

Principle established: A condition requiring due and proper precaution for money in transit demands continuous supervision of the security system, and transit terminates if the courier deviates prior to delivery.

Sierra Leone — Court of Appeal · 2016

Principle established: An application for enlargement of time to appeal must provide sufficient reasons for the delay and demonstrate that the proposed appeal has merit.

Sierra Leone — Court of Appeal · 1932

Principle established: A moneylender who transacts business under his registered name does not invalidate the transaction merely by omitting to describe himself as a moneylender in the document.

Sierra Leone — African Law Reports · 1920-36

Principle established: A moneylender who conducts business under his registered name and address does not invalidate a transaction merely by omitting to describe himself as a moneylender in the document.

South Africa · 2022

Principle established: A court may grant default judgment for outstanding loan amounts and declare mortgaged property specially executable when a debtor fails to defend the action.

Malawi · 2024

Principle established: In cases of illegal possession or attempted transfer of foreign currency, the court must determine whether the currency should be forfeited to the state or returned to the convict.

Sierra Leone — Court of Appeal · 2024

Principle established: A stay of execution of a judgment may be granted pending the determination of an appeal to prevent the appeal from being rendered nugatory.

Sierra Leone — Court of Appeal · 2022

Principle established: The court may provide early guidance on the application of the Limitation Act if the issue is germane to the case and could prevent an unnecessary trial.

Sierra Leone — Court of Appeal · 2022

Principle established: A court order requiring a bond to guarantee payment of a judgment debt typically implies a bank guarantee or similar security consistent with commercial and banking practice.

Sierra Leone — Court of Appeal · 2022

Principle established: A court order requiring a bond to guarantee payment of a judgment debt typically implies a bank guarantee or similar security consistent with commercial and banking practice.

Sierra Leone — Court of Appeal · 2022

Principle established: A court order requiring a bond to guarantee payment of a judgment debt typically implies a bank guarantee or similar security consistent with commercial and banking practice.

Sierra Leone — African Law Reports · 1920-36

Principle established: Money deposited in a bank account becomes the property of the bank as a debtor rather than a trust, meaning a servant misappropriating withdrawals commits no larceny against the employer.

Sierra Leone — Court of Appeal · 1923

Principle established: Money deposited in a bank account becomes the bank's property as a debtor, so a servant with authority to withdraw it who misappropriates the funds does not commit larceny by a servant against the employer.

Malawi · 2024

Principle established: A bank may seek to realize its security based on guarantees and indemnities executed by parties in relation to financial accommodations extended to a company.

Sierra Leone — Court of Appeal · 2022

Principle established: The court may vary the conditions of a stay of execution if the applicant demonstrates that the existing conditions are unduly onerous or no longer appropriate.

South Africa · 2022

Principle established: Administrative penalties imposed for failure to comply with statutory reporting requirements under financial intelligence laws must be reasonable, proportional to the misconduct, and based on the degree of negligence.

Malawi · 2024

Principle established: A lender exercising a power of sale over secured property must ensure that only items forming part of the security are included in the sale.

Uganda · 2026

Principle established: Not yet classified

Sierra Leone — Court of Appeal · 2001

Principle established: Not yet classified

Sierra Leone — Court of Appeal · 2001

Principle established: Not yet classified

Sierra Leone — Supreme Court · 1983

Principle established: Not yet classified

Sierra Leone — Supreme Court · 1983

Principle established: Not yet classified

Sierra Leone — Court of Appeal · 2026

Principle established: Not yet classified

Sierra Leone — Court of Appeal · 2021

Principle established: Not yet classified

Sierra Leone — Court of Appeal · 2020

Principle established: Not yet classified

Sierra Leone — Court of Appeal · 2020

Principle established: Not yet classified

South Africa · 2022

Principle established: Not yet classified