Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 501

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

English translation of the principle

Upon closure of the current account, the balance debt becomes an ordinary debt, to which interest at the exchange rate that applied to its individual entries while it was operating does not apply; statutory or agreed interest applies to it.
Arabic original
بقفل الحساب الجاري يضحى دين الرصيد دينا عادياً فلا تسري عليه فوائد السعر الصرفي الذي كان مطبقاً على مفرداته أثناء تشغيله وتسري عليه الفائدة القانونية أو الاتفاقية.
Original Arabic judgment citations

(الطعن ٢٥٤/٨٩ تجاري جلسة ٤/١/١٩٩٣ مج القسم الثالث - المجلد الأول ص ٩٠٨)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 97. PDF pages: 97.

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