Kuwait Court of Cassation principle number 2390

Documentary credit. Its nature. The independence of this contract from the contract on account of which the credit was opened. Opening a documentary credit may be a means of settling the price between the seller and the buyer pursuant to their agreement. By opening the credit, the buyer has performed his obligation toward the seller, who must deliver the thing sold. The latter's failure in that regard. Its effect. Rescission of the contract. - 412 - Commercial