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"id": 914977,
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"type": "speech",
"speaker_name": "Westlands, ODM",
"speaker_title": "Hon. Tim Wanyonyi",
"speaker": {
"id": 3036,
"legal_name": "Timothy Wanyonyi Wetangula",
"slug": "timothy-wanyonyi-wetangula"
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"content": "Hon. Milemba explained about the Merchant of Venice . When somebody comes around and wants a pound of flesh which is closest to your heart and you are pleading innocent. It is very difficult for you to come out of that situation because you signed consent freely. Sometimes the financial institutions fail to warn the guarantor about the consequences because there is always a clause about it. Before the guarantor appends his signature, if the person who is dealing with those documents is a lawyer, he is supposed to show him the clause that warns about the consequences of being a guarantor. We need to cure this ambiguity and make the law to be more predictable and also protect those who borrow and handle businesses. The business operates in a secure environment where whatever you are doing has some predictability. If it is not, then we will be doing something that is not legally viable."
}