Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 2843

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

English translation of the principle

Management of individuals’ accounts, pledging, and lending. Banking activities which exchange companies may not practise. Every agreement thereon is absolutely void on grounds of public policy and the contract is extinguished from the time of its conclusion. Elimination of every effect of its performance. Example. - 484 - Commercial
Arabic original
إدارة حسابات الأفراد والرهن والقرض. من أعمال البنوك التي لا يجوز لشركات الصرافة ممارستها. بطلان كل اتفاق على ذلك بطلاناً مطلقاً متعلقاً بالنظام العام ويعدم العقد من وقت إبرامه. زوال كل أثر لتنفيذه. مثال. - ٤٨٤ - تجاري
Original Arabic judgment citations

(الطعن ٤٧/٩٨ تجاري جلسة ٧/١٢/١٩٩٨ مج القسم الرابع - المجلد الثاني ص ٦٦٣)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 484. PDF pages: 484.

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