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{
    "id": 914964,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/914964/?format=api",
    "text_counter": 199,
    "type": "speech",
    "speaker_name": "Nominated, JP",
    "speaker_title": "Hon. (Ms.) Jennifer Shamalla",
    "speaker": {
        "id": 13166,
        "legal_name": "David Ole Sankok",
        "slug": "david-ole-sankok"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker. I rise to support this Bill and take this opportunity to congratulate Hon. Waititu on the Law of Contract (Amendment) Bill. It is an assumption that lenders exercise due diligence and control in lending and realisation of debts from principal debtors. It is noted that the guarantor’s obligation is actually secondary and not primary. It has begun to appear that for these lending institutions, the assets or collateral of the guarantor appear more attractive to the lender than that of the principal borrower. In short, going forward, it is my considered opinion that the relevant committees of this House undertake an audit of these financial system lenders and the court cases that have been filed with regard to lenders engaging in inequitable and fraudulent conduct. Going forward, we must have an audit of this so that we take the necessary action on that. I am stating this because when one reads the Merchant of Venice, more specifically in Part 4 Scene 1, Portia, whose husband, Antonio, owes money to Shylock, the money lender, says you can take a pound of flesh, but not a drop of blood. The institutions in this country are taking not only the “pound of flesh” but the “blood” of the guarantors. It is for that reason that I implore that the relevant committees investigate and audit these lenders. With those few remarks, I wholeheartedly support Hon. Waititu with regard to this amendment Bill."
}