Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 253

State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office

English translation of the principle

Banking and brokerage operations and related acts. Are deemed commercial acts regardless of the status or intention of the person performing them. - Default interest is payable on a debt owed by the debtor that has fallen due and is considered compensation for the debtor's delay in performing his obligation.
Arabic original
عمليات البنوك والسمسرة والأعمال المرتبطة بها. تعد عملاً تجارياً دون مانظر لصفة القائم بها أو نيته. - الفوائد التأخيرية تكون عن دين في ذمة المدين حل أجل استحقاقه وتعتبر تعويضاً عن تأخر المدين في الوفاء بالتزامه.
Original Arabic judgment citations

(الطعن ٢٣١/٩٨ تجاري جلسة ١٨/١٠/١٩٩٩ مج القسم الرابع - المجلد الثاني ص ٣١٣)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 52. PDF pages: 52.

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