Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 586

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

English translation of the principle

Bank deposit. A contract conferring upon the bank ownership of the money and the right to dispose of it according to its needs, with an obligation to return it to the depositor. - A deposit earmarked for a specific task. Its definition: a deposit entrusted by the customer to the bank to perform a task for the customer's account. It falls within the meaning of agency, placing the depositary in the position of an agent. The consequence of this. Its connection with another contract, namely opening a simple account that always remains in credit for the customer. It lacks the characteristics of a current account.
Arabic original
الوديعة المصرفية. عقد يخول البنك ملكية النقود والتصرف فيها تبعا لحاجاته مع التزامه بردها للمودع. - الوديعة المخصصة لعمل معين. تعريفها: وديعة يعهد بها العميل للبنك لتنفيذ عمل لحسابه. دخولها في معنى الوكالة فيكون المودع لديه في مركز الوكيل. مقتضى ذلك. إتصالها بعقد آخر هو فتح حساب بسيط يظل دائماً دائنا بالنسبة للعميل. تنتفي عنه خصائص الحساب الجاري.
Original Arabic judgment citations

(الطعن ٥٩/١٩٩٤ تجاري جلسة ١٣/١١/١٩٩٤ مج القسم الثالث - المجلد الثالث ص ١١٢٠)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 110. PDF pages: 110.

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