Kuwait Court of Cassation principle number 1704
State of Kuwait · Administrative Law · Ministry of Justice — Court of Cassation — Technical Office
English translation of the principle
Regulation of trading in companies’ securities. Relates to public policy. Its effect. Transactions contrary to that regulation are absolutely void. - A void contract. Produces no effect from the time of its conclusion. The implication thereof. Its performance is deemed never to have occurred, the contracting parties are restored to the position they occupied at the time of the contract, and each recovers what it paid without legal entitlement. Article 184, Civil Code. An example of the nullity of a share sale contract.
Arabic original
تنظيم تداول الأوراق المالية الخاصة بالشركات. يتعلق بالنظام العام. أثره. بطلان التصرفات المخالفة لذلك التنظيم بطلاناً مطلقاً. - العقد الباطل. لا ينتج أثراً من وقت إبرامه. مفاد ذلك. اعتبار تنفيذه كأن لم يكن وإعادة المتعاقدين إلى الحالة التي كانا عليها عند العقد واسترداد كل منهما ما دفع بغير حق. م١٨٤ مدني. مثال لبطلان عقد بيع أسهم.Original Arabic judgment citations
(الطعن ٧٧٣/٢٠٠٦ تجاري جلسة ٦/٤/٢٠٠٨ مجلة القضاء والقانون س٣٦ ج٢ ص٣٣)
Source: Court of Cassation legal principles collection — Administrative Law — Ministry of Justice — Court of Cassation — Technical Office. Printed page 489. PDF pages: 486.
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