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{
    "id": 914922,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/914922/?format=api",
    "text_counter": 157,
    "type": "speech",
    "speaker_name": "Nominated, JP",
    "speaker_title": "Hon. David ole Sankok",
    "speaker": {
        "id": 13166,
        "legal_name": "David Ole Sankok",
        "slug": "david-ole-sankok"
    },
    "content": " Thank you very much, Hon. Temporary Deputy Speaker for giving me this opportunity to inject my voice to this very important law, the Law of Contract (Amendment) Bill (National Assembly Bill No.1 of 2019). Let me begin by congratulating Hon. Waititu for bringing such an important Bill. Our laws are largely borrowed from India and UK. However, we should customize our laws to suit the needs of the Kenyan citizens. This Bill has gone through public participation and it is what Kenyans want. Let the borrower who is the principal beneficiary of the loan, who may have used this loan in ways that will not raise funds pay it back. He or she should be the first to pay it back. Some borrowers borrow for reasons that are not business oriented. As other Hon. Members have said, some borrow so that they can marry more wives; some borrow to travel abroad or to indulge in alcoholism and other uses that may not assist them in repayment of the loan. In all those ways, the guarantor is not involved. When the bank was giving loans, it did not involve the borrower and the guarantor. Our laws say that when there is default, the bank chooses either to go for the property of the borrower or the guarantor. The bank did not choose who to give money to, when they were lending the money. So, they should not have the right to choose who they should go to; the borrower or the guarantor. It should be the borrower who is the principal beneficiary of the money that the banks should go for first and as a priority."
}