Kuwait Court of Cassation principle number 112

The new law applies to everything occurring from the date it enters into force unless otherwise provided. The effects of legal transactions remain subject to the law under which they were concluded, unless the provisions of the new law relate to public policy, in which case they apply to effects arising after its entry into force. Article 3, Civil Code. - Commercial obligations and contracts are governed by the Civil Code, except as provided in the Commercial Code. Article 96, Commercial Code. - Raising the statutory default interest rate to 7% from the due date. Articles 110, 113, Commercial Code. Its inapplicability to transactions concluded before issuance of the Commercial Code. Their effects are subject to the law under which they were concluded. The reason therefor. Articles 110, 113 of the Commercial Code contain a supplementary rule not intended to protect a public interest and not related to public policy.