Kuwait Court of Cassation principle number 314
State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office
English translation of the principle
Documentary credit. Its nature. Independence of this contract from the contract on account of which the credit was opened. Opening a documentary credit may be a means of settling the price between seller and buyer in accordance with their agreement. By opening the credit, the buyer has performed his obligation toward the seller, who must deliver the thing sold. The latter's failure in this regard. Its effect. Rescission of the contract. C- Some types of sales:- - Sale of shares:-
Arabic original
الاعتماد المستندى. ماهيته. استقلال هذا العقد عن العقد الذي فتح الاعتماد بسببه. فتح الاعتماد المستندى قد يكون طريقا لتسوية الثمن بين البائع والمشترى وفقا لاتفاقهما. بفتح الاعتماد يكون المشترى قد نفذ التزامه قبل البائع الذي يجب عليه تسليم المبيع. تخلف الأخير عند ذلك أثره. فسخ العقد. ج- بعض أنواع البيوع:- - بيع الأسهم:-Original Arabic judgment citations
(الطعن ١٥٩/٩٠ تجاري جلسة ٢٦/٢/١٩٩٢ مج القسم الثالث - المجلد الأول ص ٩٤٢)
Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 65. PDF pages: 65.
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