Kuwait Court of Cassation principle number 2573
State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office
English translation of the principle
Closure of the current account. Its effect. - Agreement in the loan contract that the bank is entitled to interest of 4% during the term of the contract. Its absence of an agreement on interest on the debt represented by the account balance after its closure. Its effect. Application of the statutory interest rate. No basis for applying the contractual interest agreed upon before closure of the account. - The assignment contract:-
Arabic original
قفل الحساب الجاري. اثره. - الاتفاق في عقد القرض على استحقاق البنك فائدة ٤% أثناء سريان العقد. خلوه من الاتفاق على الفائدة على دين رصيد الحساب بعد قفله. أثره. سريان سعر الفائدة القانوني. لا محل لسريان الفائدة الاتفاقية المتفق عليها قبل قفل الحساب. - عقد الحوالة:-Original Arabic judgment citations
(الطعون ٣٠١، ٣٠٥، ٣١٥/٢٠٠٣ تجاري جلسة ٨/٥/٢٠٠٤ مج القسم الخامس - المجلد الثامن ص ٦٦٢)
Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 442. PDF pages: 442.
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