المحامي فهد أنور الحداد — LAWYER FAHAD AL-HADDAD
Judicial collection

Cassation principles Commercial and Labour — Volume 9

Ministry of Justice — Court of Cassation — Technical Office · من 1/10/1972 حتى 31/12/2011 · 4,069 available principles

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  1. - الحسابات الجارية

    Principle 519Entry of a debt into a current account. Its effect. - The current account absorbs all rights entering it so that they become entries, without entirely severing their connection with their source, and does not extinguish Commercial and Labour — Volume 9 · Source page ١٠٠
  2. Principle 520Agreement to enter a debt secured by consensual security in the current account. Transfer of the security to secure the account balance upon its closure to the extent of the debt, without regard to any debt or payment enCommercial and Labour — Volume 9 · Source page ١٠٠
  3. Principle 521The general rule is that a current account contract of indefinite duration may be terminated at the will of either party. Notice periods must be observed when closing the account. Absence of such periods. Its effect.Commercial and Labour — Volume 9 · Source page ١٠٠
  4. Principle 523The debt constituting the current account balance is not subject to the limitation period that governed it before it entered the account. It is subject to the ordinary limitation period prescribed for the balance arisingCommercial and Labour — Volume 9 · Source page ١٠٠
  5. Principle 524A current account. Its nature: it is not confined to banking operations. Two persons, neither of whom is a bank, may agree to conduct their dealings through a current account. The condition therefor.Commercial and Labour — Volume 9 · Source page ١٠٠
  6. Principle 527The debt represented by the current-account balance is not subject to the limitation period that governed it before its entry into the account. It is subject to the ordinary limitation period prescribed for the balance aCommercial and Labour — Volume 9 · Source page ١٠٠
  7. Principle 528Current account. Its nature: a contract whereby 2 persons agree to enter in an account, by means of - 100 - Commercial reciprocal and interlocking payments, the debts arising from transactions conducted between them. It Commercial and Labour — Volume 9 · Source page ١٠٠
  8. Principle 529Payments entered in a current account. Lose their characteristics and individuality and merge into an indivisible whole. The reason is that, pursuant to the principle of the cohesion and indivisibility of the current accCommercial and Labour — Volume 9 · Source page ١٠١
  9. Principle 530Interest received by the creditor on his debt. Interest may not be charged on its accrued amount, nor may its total exceed the principal. The exception. Cases in which the Commercial Law permits compound interest, such aCommercial and Labour — Volume 9 · Source page ١٠١
  10. Principle 533Current account. Its nature. It may be overdrawn on the part of both parties or one party. - Inferring the existence or non-existence of a current account. A matter of fact assessed independently by the trial court. It mCommercial and Labour — Volume 9 · Source page ١٠٢
  11. Principle 534Entry of a debt into a current account. Its effect. It is considered an item thereof and becomes a single debt, namely the final debt constituting the current account balance - Article 395 of the Commercial Code.Commercial and Labour — Volume 9 · Source page ١٠٢
  12. Principle 535Closure of a current account. Its effect. The balance debt becomes an ordinary debt, and interest at the banking rate applied to it during its operation ceases to accrue. Absence of an agreement between the parties on thCommercial and Labour — Volume 9 · Source page ١٠٢
  13. Principle 536Default interest - its accrual on a debt owed by the debtor that has fallen due and has not been paid - the requirement to calculate it from the due date - the reason for this: it constitutes compensation for delay in paCommercial and Labour — Volume 9 · Source page ١٠٢
  14. Principle 537Payments into a current account - lose their separate identity in the account, resulting in a single debt ascertained upon closure of the account - this is confined to the relationship between the customer, even if multiCommercial and Labour — Volume 9 · Source page ١٠٣
  15. Principle 538Statutory interest accrues on the balance debt from the date of closure of the current account unless the parties agree otherwise. Art. 401 of the Commercial Code. - The challenged judgment, affirming the first-instance Commercial and Labour — Volume 9 · Source page ١٠٣
  16. Principle 539Awarding interest while the current account is operating. Does not preclude entitlement to default interest on the balance debt after its closure and until payment. - The appellant bank's right to calculate statutory intCommercial and Labour — Volume 9 · Source page ١٠٣

  17. - القروض التجارية

    Principle 540Current account action. It is time-barred upon the lapse of five years from the date of its closure. - Current account. Its nature. - Inferring the existence or nonexistence of a current account. A question of fact for tCommercial and Labour — Volume 9 · Source page ١٠٣
  18. Principle 541Agreement on an interest rate for a commercial loan. Permissible provided it does not exceed the rates announced by the Central Bank. Example. - 103 - CommercialCommercial and Labour — Volume 9 · Source page ١٠٣
  19. Principle 542Compensatory interest. Prohibition on charging interest on its accrued arrears. The basis thereof. The rule prohibiting compound profit. Default interest. Compensation for the debtor's delay in performing his obligation.Commercial and Labour — Volume 9 · Source page ١٠٤
  20. Principle 543Loans granted by banks. A commercial act by its nature, whether or not the borrower is a merchant and whether spent on commercial or civil activities. The bank is entitled to default interest on them.Commercial and Labour — Volume 9 · Source page ١٠٤
  21. Principle 545Banking transactions. Commercial transactions, whether from the bank’s perspective or from that of its customers. - Loans are commercial transactions regardless of the borrower’s capacity or the purpose for which the loaCommercial and Labour — Volume 9 · Source page ١٠٤
  22. Principle 546Commercial companies—except a silent partnership—have juridical personality from their formation and are independent of the persons of their partners. - A partner's signing a loan agreement with the bank in his personal Commercial and Labour — Volume 9 · Source page ١٠٤
  23. Principle 547A loan granted by a bank. A commercial act by its nature. The rationale for this. It is a banking transaction whatever its purpose, whether civil or commercial. The implication of this. Entitlement to interest for delay Commercial and Labour — Volume 9 · Source page ١٠٤
  24. Principle 548Banking activities. Are considered commercial acts, whether on the bank's side or on its customers' side. Article 5 of the Commercial Code. The consequence thereof: loans contracted by banks are commercial acts by their Commercial and Labour — Volume 9 · Source page ١٠٤

  25. - الودائع المصرفية

    Principle 549Loans granted by banks. A commercial activity by its nature, whether or not the borrower is a merchant and whether expended on commercial or civil activities, and the bank is entitled to default interest on them. - Bank Commercial and Labour — Volume 9 · Source page ١٠٥
  26. Principle 550Commercial banks are institutions whose principal business is accepting deposits for use in banking operations. Examples of banking operations. They include trading in foreign currencies and precious metals. - ProhibitioCommercial and Labour — Volume 9 · Source page ١٠٥
  27. Principle 551Bank 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 tCommercial and Labour — Volume 9 · Source page ١٠٥
  28. Principle 552A non-Kuwaiti depositing his funds with a bank or company for investment for his account. Permissible. Its condition. That it fall within its objects. This applies to all companies, including local investment and exchangCommercial and Labour — Volume 9 · Source page ١٠٥
  29. Principle 553The prohibition on a non-Kuwaiti engaging in trade individually. Excepted from this are funds deposited by a non-Kuwaiti with banks and companies and agreements he concludes with them to invest his funds and to deal in fCommercial and Labour — Volume 9 · Source page ١٠٥

  30. - تحويلات مصرفية

    Principle 554The general rule is that a non-Kuwaiti may not engage in trade unless he has a Kuwaiti partner or partners. The exception: funds deposited by a non-Kuwaiti with banks or companies, or agreements he concludes with them toCommercial and Labour — Volume 9 · Source page ١٠٦
  31. Principle 555Bank transfer. Its nature. Entry of a specified amount from the debit side of the account of the person ordering the transfer, pursuant to that person's written order, on the credit side of another account. The reason foCommercial and Labour — Volume 9 · Source page ١٠٦
  32. Principle 556Bank transfer. Its definition: the bank's posting of an amount from one customer's account to another account at his request. - The beneficiary's submission of the bank transfer order to the bank instead of the applicantCommercial and Labour — Volume 9 · Source page ١٠٦

  33. - بيع وشراء العملات الأجنبية

    Principle 557Bank transfer. Its meaning. The bank's undertaking a procedure resulting in the transfer of a sum from one customer's account 592 another account at his request by book entry, whereby the amount is entered on the debit sCommercial and Labour — Volume 9 · Source page ١٠٦
  34. Principle 558Telephone communication as an approved means for banks to conduct foreign-currency purchase and sale operations. Banking custom. Its reason. Speed in completing transactions. - 106 - CommercialCommercial and Labour — Volume 9 · Source page ١٠٦

  35. - تسهيلات مصرفية

    Principle 559The work of exchange companies is confined to conducting exchange operations such as buying and selling currencies and remittances and trading in precious metals for their own account. They are prohibited from conductingCommercial and Labour — Volume 9 · Source page ١٠٧
  36. Principle 560Documentary credit. Its nature. Its independence from the contract by reason of which it was opened.Commercial and Labour — Volume 9 · Source page ١٠٧
  37. Principle 561Banking facilities (opening a credit. A letter of guarantee....) do not constitute a current account. The rule prohibiting attachment of a current account before its closure does not apply to them.Commercial and Labour — Volume 9 · Source page ١٠٧
  38. Principle 562The current account. Its nature and characteristics. Attachment of a current account before its closure. Impermissible. The reason for this.Commercial and Labour — Volume 9 · Source page ١٠٧
  39. Principle 563Program for the settlement of difficult contractual facilities. When a debt is considered covered by it.Commercial and Labour — Volume 9 · Source page ١٠٧
  40. Principle 566The Central Bank of Kuwait may purchase the total cash facilities provided by local banks and investment companies subject to the supervision of the Central Bank of Kuwait. The basis for this: Article 2 of Law 41 of 1993Commercial and Labour — Volume 9 · Source page ١٠٧

  41. - أقساط

    Principle 568Establishment that the debt consists of banking facilities granted by the bank to the debtor, for which it opened a current account in which it was entered. The parties' intention that default interest accrue from the duCommercial and Labour — Volume 9 · Source page ١٠٨
  42. Principle 570A provision may not be particularized or restricted so long as it is general, unrestricted, explicit, clear, and conclusive as to its intended meaning. Example concerning Law 43 of 1993 on exempting citizens from car insCommercial and Labour — Volume 9 · Source page ١٠٨

  43. - غسل أموال

    Principle 571Beneficiaries of real-estate and commercial loans provided by the Credit and Savings Bank before 2/8/1990. Their exemption from payment of instalments due from them on those loans after that date. Article 1 of Decree-LawCommercial and Labour — Volume 9 · Source page ١٠٨

  44. - وديعة

    Principle 572Characterizing the act upon which a compensation claim is based as a fault, or denying that characterization. A question of law subject to review by the Court of Cassation. - Establishment that the bank froze the respondCommercial and Labour — Volume 9 · Source page ١٠٨
  45. Principle 573The insurer's deposit of average expenses under the influence of the claim that they had been provided, in response to the carrier's agent's order and pursuant to the terms of the contract of carriage. Establishment of tCommercial and Labour — Volume 9 · Source page ١٠٩
  46. Principle 574Application of the rules of tort liability where a contractual relationship exists is not permissible unless fraud or gross fault is present. - Asserting the existence of a necessary deposit within a contractual relationCommercial and Labour — Volume 9 · Source page ١٠٩
  47. Principle 575The cash deposit or bank guarantee lodged by the shipping agent. Its purpose. Securing enforcement of judgments rendered against carriers. The rule governing it applies from the entry into force of the Maritime Commerce Commercial and Labour — Volume 9 · Source page ١٠٩
  48. Principle 576The essential obligation in a deposit contract. The depositary's obligation of safekeeping. - The presumption is that a deposit is gratuitous. In this case, the depositary is obliged to exercise the care exercised in safCommercial and Labour — Volume 9 · Source page ١٠٩
  49. Principle 577A deposit of necessity does not arise as long as a contractual relationship exists. The basis for this.Commercial and Labour — Volume 9 · Source page
  50. Principle 578The prohibition on exchange companies conducting banking activities, including accepting cash deposits. Article 2 of the Minister of Finance’s Decision of 19/3/84. The generality of this provision. Its implication. Its rCommercial and Labour — Volume 9 · Source page
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