KCB to pay ten shillings to acquire Imperial Bank
KCB Group, Kenya’s largest bank by assets, will pay only Ksh10 to take over Imperial Bank, which was shut down four years ago due to insider fraud that threatened its stability. The bank will take over five of its branches. For that price, KCB will...
Word of the Day: Peppercorn value
In legal parlance, a peppercorn is a metaphor for a very small payment, a nominal consideration, used to satisfy the requirements for the creation of a legal contract. It featured in Chappell & Co Ltd v Nestle Co Ltd ( AC 87), which stated that...