Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 2728

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

English translation of the principle

A change in the currency exchange rate, upward or downward, at the time of payment from that at the time of the agreement fixing its amount. Effect thereof. The debtor’s obligation remains for the same amount specified in the contract. Nullity of an agreement for the absence of that.
Arabic original
تغير سعر صرف العملة صعوداً أو هبوطاً وقت الوفاء عنه حين الاتفاق المحدد لمقدارها. أثره. بقاء التزام المدين بذات القدر المحدد في العقد. بطلان الاتفاق على خلو ذلك.
Original Arabic judgment citations

(الطعنان ٥، ١٤/٩٥ تجاري جلسة ١٠/٦/١٩٩٦ مج القسم الثالث - المجلد الثالث ص ٣٦٧)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 467. PDF pages: 467.

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