THE REGISTRAR OF DEEDS
MARIMBA & PARTNERS
HIGH COURT OF ZIMBABWE
HARARE, 15 May 2018 and 13 June 2018
K. Maeresera, for the applicant
Ms C. Damiso, for the 1st respondent
MUZOFA J: This is an application for specific performance. The dispute turns on two issues whether the agreement of sale was cancelled and the interpretation of the special condition in the agreement.
The first respondent sold to the applicant who purchased stand 5528 Glen Norah Township measuring 135 square meters with certain improvements. The first respondent signed the said agreement on 4 April 2005 and the applicant signed on 30 March 2005.
It was a term of the agreement that the sale was conditional upon the applicant being offered a loan in the sum of $150 000 000 (one hundred and fifty million dollars) by ‘ZIMRA’ or other Financial Institution not later than 21 days from the date of signature.
According to the applicant, he was offered a loan within the 21 day period. He even paid the transfer fees including the stamp duty.
Despite fulfilling the terms and conditions of the agreement the first respondent has refused or neglected to have the transfer done. Hence this application.
The first respondent opposed the application and raised two issues. The third and fourth respondents did not file opposing papers.
The first respondent conceded that the parties entered into the agreement which had a suspensive condition. According to the first respondent the applicant failed to secure a loan