Kuwait Court of Cassation principle number 2570

A current account. Its nature: a contract whereby 2 persons agree to enter in an account, through reciprocal and interwoven payments, the debts arising from transactions between them. It is not restricted to banking transactions, and a bank need not be a party thereto. - The absence from the statutory provisions of a prohibition on current-account dealings between commercial persons other than banks - its implication - the validity of account transactions between them. - 441 - Commercial - The principal features distinguishing a current account from a simple account. Their nature. - Payments entered in the current account. Their merger into an indivisible whole giving rise to a single debt, namely the balance debt. Its effect. This debt is not subject to the limitation period that governed it before entry into the account, but is subject to the ordinary limitation period prescribed for the balance arising from the current-account contract.