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. - نيابته عن الدولة في شراء المديونيات والتفويض في إدارتها

    Principle 643Benefiting from Law 41 of 1993 concerning the State's purchase of certain debts. Its condition. The customer must notarize an acknowledgment of the amount of indebtedness according to the outstanding balance on 1/8/1990 Commercial and Labour — Volume 9 · Source page ١٢٢
  2. Principle 644The debts that Law 41 of 1993 authorized the Central Bank of Kuwait to purchase. Their nature: those that led to disruption of financial conditions in the State's banking system. What does not fall within those debts.. -Commercial and Labour — Volume 9 · Source page ١٢٢
  3. Principle 645Debts which Law 41 of 1993 authorized the Central Bank of Kuwait to purchase. Their nature: debts granted by the entities specified therein to Kuwaiti customers and natural persons from the states of the Cooperation CounCommercial and Labour — Volume 9 · Source page ١٢٢
  4. Principle 646Use of compensation that that becomes due to debtors subject to the Debts Law, immediately upon its receipt, in cash - 122 - Commercial repayment of debts. An exception to the provisions on set-off contained in the CivilCommercial and Labour — Volume 9 · Source page ١٢٢

  5. - قرارته بشأن سعر الفائدة

    Principle 648Facilities for which corresponding provisions are available with the entities selling their debts. Their exclusion from the debts that the Central Bank must purchase. The reason for this. They are characterized by limiteCommercial and Labour — Volume 9 · Source page ١٢٣
  6. Principle 649Agreement to increase interest above the rate announced by the Central Bank. Impermissible. Contravention of this. Its effect. Reduction to the limit prescribed by the Bank's decision. - Contractual interest exceeding CeCommercial and Labour — Volume 9 · Source page ١٢٣
  7. Principle 650Agreement on interest exceeding the rates announced by the Central Bank. It must be reduced to the rates announced on the date the agreement was concluded. This relates to public policy. The effect thereof.Commercial and Labour — Volume 9 · Source page ١٢٤
  8. Principle 651Staying adjudication of the action pending determination of the plea of unconstitutionality. Its condition. The plea must be serious. Central Bank decisions reducing the contractual interest rate. Challenging them on groCommercial and Labour — Volume 9 · Source page ١٢٤
  9. Principle 652The creditor may combine commission or benefit with the agreed interest even if it exceeds the maximum interest prescribed by law. The condition for this. That it corresponds to a genuine service performed by the creditoCommercial and Labour — Volume 9 · Source page ١٢٤
  10. Principle 653The interest rate, statutory or contractual. It may not exceed 7% in the former case or the rate announced by the Central Bank in the latter. Articles 110 and 111 of the Commercial Code. This concerns public policy. - ThCommercial and Labour — Volume 9 · Source page ١٢٤

  11. بنك التسليف والادخار

    Principle 654Interest on a commercial loan. 7% where its rate is not specified in the contract. The contracting parties may agree on another interest rate. The condition therefor: that this rate not exceed the rates announced by the Commercial and Labour — Volume 9 · Source page ١٢٤
  12. Principle 655Provision of housing welfare to those entitled to it. Its purpose. Achievement of the public interest. Its effect. The Credit and Savings Bank may set conditions ensuring achievement of this purpose. It may stipulate thaCommercial and Labour — Volume 9 · Source page ١٢٤
  13. Principle 656A commercial bank. It is an institution whose principal business, which it habitually conducts, is accepting deposits for investment in banking operations. Article 54 of Law 32 of 1968.(¿) - The Credit and Savings Bank iCommercial and Labour — Volume 9 · Source page ١٢٥

  14. - بوجه عام

    Principle 660A shareholder in a joint-stock company listed on the Kuwait Stock Exchange. His obligation to notify the Exchange and the company's board of directors by registered letter with acknowledgment of receipt of every direct oCommercial and Labour — Volume 9 · Source page ١٢٧
  15. Principle 661The committee constituted under the chairmanship of the Minister of Commerce and Industry is entrusted with managing the Kuwait Stock Exchange. It may undertake all procedures necessary to manage the Exchange, including Commercial and Labour — Volume 9 · Source page ١٢٧
  16. Principle 662The decision issued by the Arbitration Committee at the Kuwait Stock Exchange established by Law No. 2 of 1984. Challenging it by cassation. Impermissible. The reason therefor: this decision is not among the judgments whCommercial and Labour — Volume 9 · Source page ١٢٧
  17. Principle 663Decisions issued by the Arbitration Committee of the Kuwait Stock Exchange. Final and enforceable and may not be challenged by any of the means of challenge provided in the Law of Procedure. This is not altered by permisCommercial and Labour — Volume 9 · Source page ١٢٧

  18. - بورصة الأوراق المالية

    Principle 664The Arbitration Committee of the Kuwait Stock Exchange Its formation under the chairmanship of a member of the judiciary selected by the Supreme Judicial Council and with two members of the Exchange selected by the CommiCommercial and Labour — Volume 9 · Source page ١٢٨

  19. - أوراق مالية

    Principle 665The company's demand that shareholders pay the outstanding value of their shares during its existence and before its termination. How: it may recover its right itself by offering the shares for sale at public auction or Commercial and Labour — Volume 9 · Source page ١٢٨
  20. Principle 666Shares and securities of joint-stock companies. Trading in them in contravention of Law 32/1970 before Law 42/1984 entered into force; validation of such dealings. Its implication. Actions brought seeking invalidation ofCommercial and Labour — Volume 9 · Source page ١٢٨
  21. Principle 667Shares and securities of companies. Regulation of their trading relates to public policy. Violation thereof. Its effect. Absolute nullity of the disposition. Example.Commercial and Labour — Volume 9 · Source page ١٢٨
  22. Principle 668Legal rules considered matters of public policy. Their nature and what is required in the statutory provisions establishing them. Example. - A request by a debtor subject to Law 41 of 1993 for permission to sell bonds plCommercial and Labour — Volume 9 · Source page ١٢٨
  23. Principle 669Decisions issued by the occupation authorities during their occupation of the State of Kuwait abolishing the Kuwaiti currency. Nonexistent. What is relied upon in this regard is the Kuwaiti dinar. The Amiri Order issued Commercial and Labour — Volume 9 · Source page ١٢٩
  24. Principle 670Decisions issued by the Arbitration Committee at the Kuwait Stock Exchange. Final and enforceable, and may not be challenged by any of the methods of challenge provided for in the Code of Procedure.Commercial and Labour — Volume 9 · Source page ١٢٩
  25. Principle 671Financial shares bearing their owner’s name. Establishment of their ownership and transfer thereof. How: by entry in a register that the company issuing these shares must maintain. The reason for this.Commercial and Labour — Volume 9 · Source page ١٢٩
  26. Principle 672A disposition of shares in joint-stock companies made outside the Kuwait Stock Exchange. It is completed between the contracting parties merely by their agreement. It may not be asserted against the company or third partCommercial and Labour — Volume 9 · Source page ١٢٩
  27. Principle 675Offering company shares for subscription. The legislature regulated it, required that subscription be genuine, and prohibited sham subscription or subscription in fictitious names. Contravention of this. Its effect. AbsoCommercial and Labour — Volume 9 · Source page ١٢٩
  28. Principle 676Transfer of ownership of company shares. Its condition. Their entry in the shareholders' register and with the company by the competent employee in the presence of the transferor and transferee. Reason therefor. ProtectiCommercial and Labour — Volume 9 · Source page ١٣٠
  29. Principle 677The committee formed under the chairmanship of the Minister of Commerce and Industry, the Market Committee, is entrusted with managing the Kuwait Stock Exchange. It may undertake all measures necessary to manage the markCommercial and Labour — Volume 9 · Source page ١٣٠
  30. Principle 678A shareholder in a joint-stock company listed on the Kuwait Stock Exchange. His obligation to notify the Exchange and the company’s board of directors by registered letter with acknowledgment of receipt of every direct oCommercial and Labour — Volume 9 · Source page ١٣٠
  31. Principle 679Cassation appeals against judgments rendered by the Court of Appeal. Permissible regardless of the subject matter in which - 130 - Commercial the challenged judgment was rendered, whenever it is based on a violation of tCommercial and Labour — Volume 9 · Source page ١٣٠
  32. Principle 680The draft decision of the Arbitration Committee - at the Kuwait Stock Exchange - containing the reasons for determining the dispute must be signed by the chairman and members of the Committee. Its signature by the majoriCommercial and Labour — Volume 9 · Source page ١٣١
  33. Principle 681Regulation of the offering of company shares for subscription in a manner safeguarding the interests of investors and companies and the stability of the economic system. Its implication. This regulation is considered to Commercial and Labour — Volume 9 · Source page ١٣١

  34. - صندوق الاستثمار

    Principle 682The right of a shareholder member in joint-stock companies to bring an action for nullity of any resolution issued by the general assembly. The condition for this. That resolution contravenes the law, public policy, the Commercial and Labour — Volume 9 · Source page ١٣١

  35. - اكتتاب عام

    Principle 683Redemption of investment units. Its manner and procedures: requiring submission of the redemption application within a specified period and following the valuation period, accompanied by the relevant certificates and a sCommercial and Labour — Volume 9 · Source page ١٣١
  36. Principle 684Joint-stock companies that do not offer their shares for public subscription must be incorporated by an instrument issued by all the founders. Article 94 of the Companies Law. Example.Commercial and Labour — Volume 9 · Source page ١٣٢

  37. غرفة تجارة وصناعة الكويت

    Principle 686An act in violation of subscription. Its not being criminally punishable. Its implication. The nullity action lapses upon the passage of three years from the date subscription closes. The lapse period. What is meant by iCommercial and Labour — Volume 9 · Source page ١٣٢
  38. Principle 687Determination of commercial and industrial custom. It falls within the competence of the Kuwait Chamber of Commerce. - Authoritative certificates issued by the Kuwait Chamber of Commerce are those it issues at the requesCommercial and Labour — Volume 9 · Source page ١٣٢

  39. صرافة

    Principle 688The regulation specific to insurance agents. Its requirement that the agent be registered in the commercial register at the Chamber of Commerce. Does not preclude the valid formation of an agency actually conducted and tCommercial and Labour — Volume 9 · Source page ١٣٢
  40. Principle 690The current account which exchange companies are prohibited from operating is an ancillary contract facilitating performance of other contracts, all fused into a single receptacle to unify the two sides of payment and peCommercial and Labour — Volume 9 · Source page ١٣٣
  41. Principle 693Prohibition on a non-Kuwaiti engaging in trade alone except through a Kuwaiti partner holding at least 51% of the capital. The reason for this prohibition. Its connection with public policy. - A contract's contravention Commercial and Labour — Volume 9 · Source page ١٣٣
  42. Principle 696Prohibition on exchange companies practicing banking activities. - A bank deposit as a banking operation. Its meaning. Its effect. The bank acquires ownership of the deposited money and has the right to dispose of it andCommercial and Labour — Volume 9 · Source page ١٣٤
  43. Principle 697The banking profession. Its practice is restricted to institutions taking the form of joint-stock companies offering their shares for public subscription.Commercial and Labour — Volume 9 · Source page ١٣٤
  44. Principle 698A non-Kuwaiti depositing his funds with a bank or company for investment for his account. Permissible. The condition for this. That it fall within its objects. This applies to all companies, including local investment anCommercial and Labour — Volume 9 · Source page ١٣٤
  45. Principle 699Contracts concluded by banks, companies and exchange institutions with non-Kuwaitis to invest their funds. The condition for their validity. That their investment falls within their objects. Example.Commercial and Labour — Volume 9 · Source page ١٣٤
  46. Principle 700Depositing funds with banks or companies, investing funds with them, and dealing in foreign currency and precious metals. Permitted for non-Kuwaitis. Law 45/1989 amending Article 23 of the Commercial Code. The condition Commercial and Labour — Volume 9 · Source page ١٣٤
  47. Principle 701The cash deposit that exchange companies are prohibited from undertaking as a banking activity. Its definition and types. The rationale for the prohibition. It is to prevent exchange companies from competing with banks fCommercial and Labour — Volume 9 · Source page ١٣٤
  48. Principle 702The activities of exchange companies are confined to conducting exchange business, such as buying and selling currencies and remittances and trading in precious metals for their own account. They are prohibited from condCommercial and Labour — Volume 9 · Source page ١٣٥
  49. Principle 704The legislature's specification of the activities exchange companies are licensed to undertake and its prohibition on their carrying on banking activities, including accepting bank deposits. The Minister of Finance's decCommercial and Labour — Volume 9 · Source page
  50. Principle 706Exchange companies. They are prohibited from conducting banking activities. The rationale for this is to prevent these companies from competing with banks in their primary role.Commercial and Labour — Volume 9 · Source page
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