Kuwait Court of Cassation principle number 3329

The new law applies to everything occurring from the date of its entry into force unless otherwise provided. The effects of transactions remain subject to the law under which they were concluded, unless the provisions of the new law relate to public policy, in which case they apply to effects arising thereunder after its entry into force. Article 3, Civil Code. - Commercial obligations and contracts. The provisions of the Civil Code apply thereto. Except as provided in the Commercial Code. Article 96, Commercial Code. - Raising the statutory default interest rate to 7% from the date of the judicial claim. Articles 110, 113, Commercial Code. Its inapplicability to transactions concluded before the enactment of the Commercial Code. Their effects are subject to the law under which they were concluded. The reason: Articles 110, 113 contain a supplementary rule not intended to protect a public interest and unrelated to public policy. - 561 - Commercial