JUDGMENT OF THE COURT
This is an appeal by the unsuccessful defendant from the judgment of the superior court (Onyango Otieno, J. – as he then was) in which the learned judge gave judgment in favour of the plaintiff, Daima Bank Ltd. (the respondent in this appeal). This being a first appeal, it is in form of a rehearing and for that matter, it will be necessary to go back to the pleadings in the superior court. In its plaint filed in the superior court on 21st October, 1998 the plaintiff (respondent herein) stated inter alia:-
“3. That on around the 2nd January, 1996 the plaintiff herein at the defendant’s request did offer loan facilities to the defendant for K.shs.7,000,000 which loan facilities the defendant accepted and duly executed a charge in favour of the plaintiff over his land reference Galu/Kinondo/50 as a security for the said loan.
4. The defendant has failed in his obligation to repay the said loan to the plaintiff which loan stands at K.shs.23,491,007.65 as at 9th October,…