paid by the appellant in 12 months installments beginning from the
10th June, 1998 ending on 10th May, 1999 under a guarantee dated
6th March, 1998. The appellant gave the guarantee followed by an
undated condition precedent for the payment of the money. Both
documents are brief. I should reproduce them beginning with the
letter of guarantee (Exh. Pi) which reads as follows—
"06th March, 1998.
Sadique Masaud Janjua Plot 190, Kyanja KATALEMWA
RE: LETTER OF GUARANTEE NO. 37/9S
We Cairo International Bank, hereby guarantee our client M/SAYOSAMA to the extent of USD $ 250,000 (US Dollars Two Hundred and Fifty Thousand Only.)
IN RESPECT OF: Payment towards cost of the quarry (land and equipment).
For the fulfillment of their obligation, the object of this guarantee we undertake to pay to you the above mentioned amount in 12 monthly installments from 10/06/98 to 10/5/99 as follows:
12 monthly installments of US $ 20, 800 (US Dollars twenty thousand eight hundred only) and a final installment of US $ 21,200 (US Dollars Twenty One Thousand Two Hundred Only) in the final month upon your first demand notwithstanding any contention regarding the schedule of payment.”
CAIRO INTERNA TIONAL BANK KAMPALA -U G A ND A.”