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Nathanael Ijukaine v. Martin Kalokola, (PC) Civ. App. 36-M-66; 3/4/67; Mustafa, J.
Plaintiff sued for the unpaid amount of a loan. The original amount of the loan was Shs. 300/- plus “interest” or “a profit” or Shs. 175/-. The contract also provided that if the loan were not paid on the date due, additional interest of Shs. 10/- per month would be charged.
Held: (1) The rate of interest is exorbitant and is not recoverable. The court allowed recovery of Shs. 300/-, the amount of the loan, and interest of ten percent per annum on that amount for the period between the date the loan was due and the day judgment was entered.
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