Kuwait Court of Cassation principle number 3211

The rule is that trading in shares of joint-stock companies takes place by commercial methods without following the procedures for assignment of rights. The condition for the assignment to be effective is the company's acceptance or notification thereof. The effect thereof is the cessation of shareholder status in the company and the assignee's succession to all rights and duties. Invoking the transfer against the company. Its condition. - The judgment's disregard of the plea that shareholder status ceased upon transfer of the share to another and its registration in the shareholders' register. An error.