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. - إعلان الشركة

    Principle 1465Service on a company is valid by delivering a copy at its management headquarters or to one of the general partners. Failure to do so. Its effect is nullity of service.Commercial and Labour — Volume 9 · Source page ٢٥٧
  2. Principle 1467Service on companies. Its procedures. - Prohibition on delivering a copy of the notice to a person managing the premises or to an employee therein in the absence of the intended recipient. Art. 10, Civil Procedure Law. ICommercial and Labour — Volume 9 · Source page ٢٥٧
  3. Principle 1468The rules governing service upon companies and private legal persons. Service must first be directed to their management headquarters, to their legal representative, a person managing them, a general partner, or a personCommercial and Labour — Volume 9 · Source page ٢٥٧
  4. Principle 1469Service upon companies. How it is effected. An example concerning service upon a limited liability company through its general manager. - The worker in the shop. An agent of the employer.Commercial and Labour — Volume 9 · Source page ٢٥٧
  5. Principle 1470The prerequisite for valid service on a company is delivery of a copy of the process at its management headquarters to its legal representative, one of those responsible for its management, a general partner, or a personCommercial and Labour — Volume 9 · Source page ٢٥٧
  6. Principle 1471Validity of service on a company at its head office. Its criterion. Failure of service and the defendant's non-appearance. Its effect. Failure of the principle of adversarial proceedings between the litigants and non-conCommercial and Labour — Volume 9 · Source page ٢٥٧

  7. - الأعمال المتعلقة بتأسيس الشركات وبيع أو شراء أسهمها وسنداتها

    Principle 1472Service relating to companies. It must be directed to their administrative headquarters and delivered to their legal representative, one of those managing them, or whoever acts in their stead. Absence of administrative hCommercial and Labour — Volume 9 · Source page ٢٥٨

  8. - التشريع الذي تخضع له الشركات التجارية

    Principle 1473Activities relating to the incorporation of companies and the sale or purchase of their shares or bonds. Commercial activities irrespective of the capacity or intention of the person performing them. - The legislation toCommercial and Labour — Volume 9 · Source page ٢٥٨
  9. Principle 1474Commercial companies are subject, in their formation, management, and dissolution, to Commercial Companies Law No. 15 of 1960. Their conduct of their commercial business, however, is subject to the Commercial Law, includCommercial and Labour — Volume 9 · Source page ٢٥٨
  10. Principle 1475The Companies Law. Its scope of application. Incorporation, management and termination of companies. Companies' conduct of their activities. Subject to the provisions of the Commercial Law. - A trade name. Must differ frCommercial and Labour — Volume 9 · Source page ٢٥٨

  11. - أسهم الشركة ( طرحها للاكتتاب وتداولها وأيلولتها للغير)

    Principle 1476The Decree-Law concerning authorization to establish Kuwait Finance House. Its provisions indicate that it is a joint-stock company pursuant to the law establishing it, while being subject to the general provisions contaCommercial and Labour — Volume 9 · Source page ٢٥٨
  12. Principle 1477The prohibition on a member of the board of directors of a joint-stock company disposing of his shares until the expiry of his term of membership and his approval of the balance sheet for the last financial year. It doesCommercial and Labour — Volume 9 · Source page ٢٥٩
  13. Principle 1478Disposal of a joint-stock company’s shares before issuance of the first balance sheet, and of founders’ shares before the lapse of three years from the company’s incorporation. Its nullity as a matter of public policy. TCommercial and Labour — Volume 9 · Source page ٢٥٩
  14. Principle 1479Nullity of dispositions of shares in joint-stock companies as provided in Articles 106, 109 of the Companies Law. Absolute nullity. It encompasses a sale subject to a condition.Commercial and Labour — Volume 9 · Source page ٢٥٩
  15. Principle 1480Disposal by the founders of a shareholding company of their shares before the lapse of three years from its incorporation. Absolutely void on grounds of public policy. Any interested person may invoke it.Commercial and Labour — Volume 9 · Source page ٢٥٩
  16. Principle 1481Prohibition on shareholders of a joint-stock company disposing of their shares until three years have elapsed since incorporation. The prohibition encompasses both public subscription and subscription by the founders forCommercial and Labour — Volume 9 · Source page ٢٥٩
  17. Principle 1482Grounds relating to public policy. The Court of Cassation may raise them of its own motion even if they are not included in the appeal petition. Example: the provisions of Law 42/1984 concerning overlooking the nullity oCommercial and Labour — Volume 9 · Source page ٢٥٩
  18. Principle 1483The provisions of Law No. 42/1984 concerning disregarding the nullity of transactions in shares of joint-stock companies conducted in violation of Articles 106/1 and 109 of Law No. 15/1960, and in shares of Gulf companieCommercial and Labour — Volume 9 · Source page ٢٥٩
  19. Principle 1484Shares and securities of joint-stock companies. Their trading in contravention of Law 32/1970 before Law 42/1984 came into force. Validation of such dealing. Consequence thereof. Actions brought seeking invalidation of sCommercial and Labour — Volume 9 · Source page ٢٦٠
  20. Principle 1485Calling upon shareholders to pay the remaining value of the shares. Its submission to the general assembly. It does not preclude the company's board of directors from having competence over it.Commercial and Labour — Volume 9 · Source page ٢٦٠
  21. Principle 1486A joint-stock company. Its right to sell a partner’s shares without being bound by compulsory execution procedures if he delays payment of the instalments.Commercial and Labour — Volume 9 · Source page ٢٦٠
  22. Principle 1489Company shares and partners’ interests are property of legally recognised value. Their assignment is a form of sale. It must be by an official instrument. - Partners’ redemption of the interest sold. Its condition.Commercial and Labour — Volume 9 · Source page ٢٦٠
  23. Principle 1490Prohibition of expelling a shareholder from a joint-stock company and selling his shares against his will. His right to remain in the company and to assign his shares. Among the fundamental rights that cannot be infringeCommercial and Labour — Volume 9 · Source page ٢٦٠
  24. Principle 1492The rule is that trading in shares of joint-stock companies takes place by commercial methods without following the procedures for assignment of rights. The condition for the assignment to take effect is the company’s acCommercial and Labour — Volume 9 · Source page ٢٦٠
  25. Principle 1493A partner’s registered shares. When his ownership thereof is established and the manner of their transfer. The reason therefor. Protection of the company and third parties against multiple dispositions of the same share.Commercial and Labour — Volume 9 · Source page ٢٦١
  26. Principle 1494Offering shares of joint-stock companies for subscription. Its regulation. Its relation to public policy. Consequence thereof. Invalidity of transactions contravening it. Example.Commercial and Labour — Volume 9 · Source page ٢٦١
  27. Principle 1496Financial shares bearing their owner's name. Establishment of their ownership and transfer. Its method: by entry in a register which the company issuing those shares must maintain. The rationale therefor.Commercial and Labour — Volume 9 · Source page ٢٦١
  28. Principle 1498The State, public institutions, and Kuwaiti joint-stock companies holding shares in another joint-stock company. May delegate representatives to its board of directors in proportion to their shareholdings, and the numberCommercial and Labour — Volume 9 · Source page ٢٦١
  29. Principle 1499A member of the company's board of directors. Must own a number of its shares to be deposited, within one month from - 261 - Commercial the date of his appointment, with an approved bank, without their being negotiable uCommercial and Labour — Volume 9 · Source page ٢٦١
  30. Principle 1500A disposition of shares in joint-stock companies made outside the Kuwait Stock Exchange. Its completion between the contracting parties by their mere agreement. It may not be invoked against the company or third parties Commercial and Labour — Volume 9 · Source page ٢٦٢
  31. Principle 1501Offering company shares for subscription. The legislature regulated it, required subscription to be genuine, and prohibited sham subscriptions or subscriptions in fictitious names. Violation of this. Its effect. AbsoluteCommercial and Labour — Volume 9 · Source page ٢٦٢
  32. Principle 1502Transfer of ownership of company shares. Its condition. Their registration in the shareholders' register and with the company by the competent employee in the presence of the transferor and transferee. The reason therefoCommercial and Labour — Volume 9 · Source page ٢٦٢
  33. Principle 1503Shareholders who subscribed for the company’s shares are considered members thereof and enjoy the same rights as its members who signed its memorandum of association. The implication thereof. Their entitlement to receiveCommercial and Labour — Volume 9 · Source page ٢٦٢
  34. Principle 1504Regulation 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. Such regulation is deemed to concCommercial and Labour — Volume 9 · Source page ٢٦٣

  35. - تعلق طرح الأسهم بالنظام العام

    Principle 1505The general rule is that trading in shares of joint-stock companies takes place by commercial methods without dependence on any particular restriction. A shareholder’s assignment of his shares to a third party. It occursCommercial and Labour — Volume 9 · Source page ٢٦٣

  36. - إدارة شركة المساهمة (مجلس الإدارة والجمعية العمومية)

    Principle 1506The provisions of Decree-Law 49/1987 validating dispositions made in shareholders’ rights in joint-stock companies whose incorporation procedures were not completed and these rights cease before Law 42/1984 came into forCommercial and Labour — Volume 9 · Source page ٢٦٣
  37. Principle 1507Postponement of the general assembly meeting of companies. Notice thereof. It is not required to contain a restatement of the agenda.Commercial and Labour — Volume 9 · Source page ٢٦٣
  38. Principle 1508The Companies Law. Contains no provision requiring an invitation to a representative of the Ministry of Commerce to attend the general assembly of a shareholding company. - The auditor of a shareholding company. His atteCommercial and Labour — Volume 9 · Source page ٢٦٣
  39. Principle 1510The chairman of the company's board of directors is its president and representative before third parties. His signature is equivalent to the signature of the board of directors in the company's relations with third partCommercial and Labour — Volume 9 · Source page ٢٦٤
  40. Principle 1512A joint-stock company may bring a liability action against the chairman and members of the board of directors. The cases thereof. The limitation period for this action. Five years. Commencement of the calculation of thisCommercial and Labour — Volume 9 · Source page ٢٦٤
  41. Principle 1513A liability action brought by a joint-stock company. Its extinguishment by its special limitation period. Confined to the chairman and members of its board of directors. Absence of this capacity in the person against whoCommercial and Labour — Volume 9 · Source page ٢٦٤
  42. Principle 1514The acts for which the chairman and members of the board of directors of a shareholding company are liable toward the company, shareholders, and third parties. Their nature. The condition for their liability to arise. AcCommercial and Labour — Volume 9 · Source page ٢٦٤
  43. Principle 1515The general assembly of joint-stock companies; the board of directors has the right to convene its meeting on its own initiative or at the request of a specified number of shareholders in accordance with the procedures sCommercial and Labour — Volume 9 · Source page ٢٦٤
  44. Principle 1516Sale of the entire undertaking carried on by the company or its disposal in any other manner. A resolution thereon may not be adopted by the general assembly unless it is convened in extraordinary session. Limiting the sCommercial and Labour — Volume 9 · Source page ٢٦٥
  45. Principle 1517The extraordinary general assembly of joint-stock companies. It is their supreme authority and may allocate the company's capital if it exceeds its needs or if a loss occurs and it considers reducing it to the value actuCommercial and Labour — Volume 9 · Source page ٢٦٥
  46. Principle 1518The chairman and members of the board of directors of a joint-stock company. Liable to the company, shareholders and third parties for all acts of fraud and abuse of authority, every violation of the law or the company'sCommercial and Labour — Volume 9 · Source page
  47. Principle 1519Management of the board of a joint-stock company. Vested in the chairman and its members in their capacity as agents of the general assembly of shareholders, in return for remuneration. They must exercise customary care Commercial and Labour — Volume 9 · Source page
  48. Principle 1520A joint-stock company. Its entitlement to bring a liability action against the chairman and members of the board of directors in all cases in which direct damage to the company results from acts of fraud, abuse of power,Commercial and Labour — Volume 9 · Source page
  49. Principle 1521The 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 therefor. That resolution’s violation of the law, public policy, tCommercial and Labour — Volume 9 · Source page
  50. Principle 1523The board of directors of a joint-stock company. Its right to call a general assembly meeting on its own initiative or at the request of a specified number of shareholders, and the requirement that the invitation containCommercial and Labour — Volume 9 · Source page
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