Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 551

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

English translation of the principle

Bank deposit and deposit earmarked for a specific operation. The nature of each. - When a contract ceases to be a bank deposit, regarded as a loan in which the bank acquires ownership of the money, and the bank assumes the position of an agent. Its principal obligation here is not merely to return an amount equal to what it received, but to preserve it to enable it to perform the original agreed contract in return for remuneration.
Arabic original
الوديعة المصرفية والوديعة المخصصة لعمل معين. ماهية كل منها. - متى يخرج العقد عن الوديعة المصرفية بإعتبارها قرضاً يتملك فيه البنك النقود ليصبح في مركز وكيل. التزامه الأساسي هنا ليس مجرد رد مبلغ مساوٍ لما تسلمه بل المحافظة عليها لتمكينه من تنفيذ العقد الأصلي المتفق عليه مقابل أجر.
Original Arabic judgment citations

(الطعن ١٧٨/٨٩ تجاري جلسة ٢٩/١/١٩٩٠ مج القسم الثاني - المجلد الأول ص ٧٥٣)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 105. PDF pages: 105.

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