Kuwait Court of Cassation principle number 2880
State of Kuwait · Civil Matters — Volume 11 · Ministry of Justice — Court of Cassation — Technical Office
English translation of the principle
Documentary credit. Its nature. This contract is independent of the contract by reason of which the credit was opened. Opening a documentary credit may be a means of settling the price between seller and purchaser in accordance with their agreement. By opening the credit, the purchaser has performed his obligation towards the seller, who must deliver the thing sold. The latter's failure to do so. Its effect. Rescission of the contract.
Arabic original
الاعتماد المستندى. ماهيته. استقلال هذا العقد عن العقد الذي فتح الاعتماد بسببه. فتح الاعتماد المستندى قد يكون طريقاً لتسوية الثمن بين البائع والمشتري وفقاً لاتفاقهما. بفتح الاعتماد يكون المشتري قد نفذ التزامه قبل البائع الذي يجب عليه تسليم المبيع. تخلف الأخير عند ذلك أثره. فسخ العقد.Original Arabic judgment citations
(الطعن ١٥٩/٩٠ تجاري جلسة ٢٦/٢/١٩٩٢ مج القسم الثالث - المجلد الأول ص ٩٤٢)
Source: Court of Cassation legal principles collection — Civil Matters — Volume 11 — Ministry of Justice — Court of Cassation — Technical Office. PDF pages: 560.
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