RULING OF THE COURT
Daber Enterprises Limited, the respondent, was the successful bidder at a public auction sale conducted by the applicant's auctioneers on 17th September, 1997 at their premises along Meru Road, Mombasa.
The public auction was in respect of a piece or parcel of land known as Title No Mombasa/Block/291 (the suit property) situate along Tom Mboya Avenue, Mombasa and was conducted in exercise of the applicant's statutory power of sale. The applicant is Industrial and Commercial Development Corporation.
It is common ground that the respondent, through its director one Bernard Mwangi Mbai was the highest bidder and that upon the fall of the hammer the respondent paid a sum of Shs. 800,000/- (being 25% of the bid price) to the auctioneer.
The balance was payable within 30 days of the auction sale.
It is also common ground that the auctioneer upon receipt of Shs. 800,000/- aforesaid prepared and signed a certificate of sale dated 23rd September, 1997 by which he confirmed havin…