Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 3331

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

English translation of the principle

Entry of transactions and their merger into the current account and loss of their identity. And their independence therein. Its effect. Application to them of the rules governing current-account interest. - Compound interest. The legislature's prohibition thereof. Excepting what commercial practices permit and the commercial custom of capitalising interest from the current account and following interest thereon while the account remains open.
Arabic original
افراغ عمليات واندماجها في الحساب الجاري وفقد ذاتيها. واستقلالها فيه. أثره. سريان القواعد التي تحكم فوائد الحساب الجاري عليها. - الفوائد المركبة. تحريم المشرع إياها. استثناء ما تجري به العادات التجارية وما جرى به العرف التجاري بتجميد الفوائد من الحساب الجاري واقتداء بفوائد عنها أثناء قيام الحساب.
Original Arabic judgment citations

(الطعن ١٤٧/١٩٨٦ تجاري جلسة ٢٥/٣/١٩٨٧ مج القسم الثاني - المجلد الثالث ص ٣٩٣)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 562. PDF pages: 562.

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