Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 2830

State of Kuwait · Civil Matters — Volume 10 · Ministry of Justice — Court of Cassation — Technical Office

English translation of the principle

The balance debt becomes an ordinary debt upon closure of the current account. Interest at the banking rate that applied to its individual entries during its operation does not apply to it. What applies to it: whatever the parties agree upon; otherwise interest is calculated at the statutory rate of 7%. Example concerning a loan contract.
Arabic original
دين الرصيد يصبح ديناً عادياً بقفل الحساب الجاري. لا يسري عليه فوائد السعر المصرفي الذي كان مطبقاً على مفرداته أثناء تشغيله. ما يسري عليه: ما يتفق الطرفان عليه وإلا احتسبت الفائدة على أساس ٧ ٪ السعر القانوني. مثال بشأن عقد القرض.
Original Arabic judgment citations

(الطعن ٩٠٧/٢٠٠٦ تجاري جلسة ٦/١٢/٢٠٠٧ مجلة القضاء والقانون - س ٣٥ ج ٣ ص ٢٨٨)

Source: Court of Cassation legal principles collection — Civil Matters — Volume 10 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 525. PDF pages: 525.

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