Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 4517

State of Kuwait · Civil Matters — Volume 11 · Ministry of Justice — Court of Cassation — Technical Office

English translation of the principle

Pledging money, debts, bearer bonds, and registered bonds and shares. Permissible. - An agreement that the creditor has the right to acquire ownership of the pledged property or sell it without observing the prescribed procedures if the debt is not paid when due. Prohibited.
Arabic original
رهن النقود والديون والسندات لحاملها والسندات والأسهم الإسمية. جائز. - الاتفاق على أن للدائن حق تملك الشيء المرهون أو بيعه بدون مراعاة الإجراءات المقررة في حالة عدم استيفاء الدين عند حلول أجله. محظور.
Original Arabic judgment citations

(الطعن ١٨٠/٩٣ تجاري جلسة ١٨/٤/١٩٩٤ مج القسم الثالث - المجلد الثاني ص ١٠٧٩)

Source: Court of Cassation legal principles collection — Civil Matters — Volume 11 — Ministry of Justice — Court of Cassation — Technical Office. PDF pages: 890.

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