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Harare High Court
CBZ Bank Limited v Michael Elia S P Peter Mhundwa
HH 633-17
Case Details
Court
Harare High Court
Date
27 September 2017
Citation
HH 633-17
Neutral Citation
[2017] ZWHH 633
Outcome
unknown
Case Type
Appeal
Bench
Presiding
CHITAKUNYE J
Full Bench
CHITAKUNYE JNDEWERE J
Areas of Law
Banking LawContract LawCivil Procedure
Keywords
Bank errorOverdrawn accountInterest rateReversal of entriesBalance of probabilities
Tags
Banking errorOverdraftInterest chargesBanker-customer relationship
legislation
Statutes Cited
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ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether the bank proved on balance of probabilities that it erroneously credited the respondent's account","issue_type":"mixed","dispositive":"yes","related_facts":"Single deposit triplicated, bank's evidence of error, respondent's denial"}
- {"issue_text":"Whether the bank was entitled to charge interest at 28% per annum on the overdrawn account","issue_type":"law","dispositive":"yes","related_facts":"Account terms signed by respondent, banking practice on overdrafts"}
- {"issue_text":"Whether the bank was entitled to debit the respondent's fixed deposit account","issue_type":"law","dispositive":"yes","related_facts":"Account opening terms, overdrawn current account"}
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background
Facts of the Case
Background
CBZ Bank erroneously credited the respondent's account with US$9,000 instead of US$3,000 due to a system error. After discovering the error and reversing the entries, the respondent's account became overdrawn. The bank sued for the overdrawn amount plus interest, while the respondent counter-claimed for US$2,000 debited from his fixed deposit account.
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