Kuwait Court of Cassation principle number 1492

The rule is that trading in shares of joint-stock companies takes place by commercial methods without following the procedures for assignment of rights. The condition for the assignment to take effect is the company’s acceptance or its notification. The effect of this is termination of shareholder status in the company - 260 - Commercial and substitution of the transferee in all rights and duties. Invoking the transfer against the company. Its condition. - The judgment’s disregard upon the plea of loss of standing through transfer of the share to a third party and its entry in the shareholders’ register. An error.