RULING OF THE COURT
This is an application brought by the applicants, defendants in the superior court, under rule 5(2) (b) of the Rules of this Court, seeking an order for a stay of a decree issued against them on 24th of June, 1998, for a sum of Ksh.3T,h1e2 3,d1i2s5p.u6t5e. between the parties in the suit revolved around a hire purchase agreement which had gone sour over a motor vehicle. The respondent's claim in the suit that was filed on 4th February, 1998 was for a sum of Ksh.2,396,260.15, money it had advanced to the 1st applicant for the purchase of a motor vehicle registration No. KAG 854Q Tata DM Tipper and guaranteed by the 2nd and 3rd applicants. The terms of the agreement were inter alia, that the applicants would repay the amount by monthly instalments of Ksh.111,667.00 in 23 months. They breached the agreement by failing to pay as agreed, and the respondent claimed for the principal sum plus interest at 52% per annum.
On 2nd of March, 1998 the applicants filed a defence an…