Kuwait Court of Cassation principle number 2438
State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office
English translation of the principle
A documentary credit is a contract under which the bank undertakes to open a credit at the request of one of its customers in favour of another person, the beneficiary, against documents representing goods being transported or prepared for transport. The independence of this contract from the contract on account of which the credit was opened. The nature of the second contract and the consequences thereof. Example. - The sale contract:-
Arabic original
الاعتماد المستندي عقد يتعهد البنك بمقتضاه بفتح إعتماد بناء على طلب أحد عملائه لصالح شخص آخر هو المستفيد بضمان مستندات تمثل بضاعة منقولة أو معدة للنقل. إستقلالية هذا العقد عن العقد الذي فتح الاعتماد بسببه. ماهية العقد الثاني وما يترتب على ذلك. مثال. - عقد البيع:-Original Arabic judgment citations
(الطعن ٥٤٩/٢٠٠١ تجاري جلسة ٢٧/١/٢٠٠١ مج القسم الرابع - المجلد الخامس ص ٤٦٥)
Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 421. PDF pages: 421.
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