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. - الشركات المساهمة وقانون الإفصاح عن المصالح

    Principle 1524The absence from Decree-Law 3/1955 of joint and several liability between commercial or industrial companies and their shareholders for payment of income tax. Its consequence: such joint and several liability between theCommercial and Labour — Volume 9 · Source page ٢٦٧
  2. Principle 1525The general rule is that shares of joint-stock companies are traded by commercial methods without following assignment-of-right procedures. A shareholder's transfer of his shares to another. Effected by mere agreement. ECommercial and Labour — Volume 9 · Source page ٢٦٧
  3. Principle 1526An action for liability. Available to a joint-stock company. Its institution against the chairman and members of the board of directors. Cases thereof. Articles 148, 149, 204 of the Companies Law. The general assembly's Commercial and Labour — Volume 9 · Source page ٢٦٧
  4. Principle 1527The absence from the Commercial Companies Law and its amendments of a provision making the convening of the general meeting of joint-stock companies conditional upon the Central Bank expressing its opinion on their balanCommercial and Labour — Volume 9 · Source page ٢٦٧
  5. Principle 1528The shareholding company in its two types. Of whom it is composed, how it is incorporated and publicized, and when it acquires legal personality. - 267 - Commercial - Incorporation of public or closed shareholding companCommercial and Labour — Volume 9 · Source page ٢٦٧
  6. Principle 1529Joint-stock companies are prevented with a legal personality independent of the persons of their partners. Its consequence. Their patrimony is separate from their partners' patrimonies and their assets from their partnerCommercial and Labour — Volume 9 · Source page ٢٦٨
  7. Principle 1532Collection of the outstanding value of shares owed by a company's shareholders upon its dissolution through a declaration of bankruptcy. It relates to two cases. The first is where the outstanding value of shares owed byCommercial and Labour — Volume 9 · Source page ٢٦٨
  8. Principle 1533The criterion for subjection to legislation enacted concerning transactions relating to company shares concluded on deferred terms is the mere issuance of checks, instruments, or other means of payment bearing a later daCommercial and Labour — Volume 9 · Source page ٢٦٨
  9. Principle 1534A 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 ٢٦٨

  10. - الشركات المساهمة التي لا تطرح أسهمها في اكتئاب عام (المقفلات)

    Principle 1535The 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 market, including exCommercial and Labour — Volume 9 · Source page ٢٦٩
  11. Principle 1538Formation of joint-stock companies that do not offer their shares for public subscription. Its manner. Their acquisition of legal personality. Its condition. Registration in the Commercial Register and publication in theCommercial and Labour — Volume 9 · Source page ٢٦٩

  12. - المنازعات المتعلقة بأسهم الشركات التي تمت بالأجل

    Principle 1541Application of the provisions of the Commercial Law. Its criterion. That the contracting party is a merchant, so that the contracts he concludes are subject to the Commercial Law, or that the act is commercial. This is nCommercial and Labour — Volume 9 · Source page ٢٧٠
  13. Principle 1542The arbitral tribunal's exclusive jurisdiction to determine disputes concerning company shares transacted on a deferred basis. Its award is final.Commercial and Labour — Volume 9 · Source page ٢٧٠
  14. Principle 1543The law’s lack of a special provision concerning limitation of the rights belonging to the entities it specified in the legislation by which it addressed the company shares crisis. The effect thereof. Their limitation peCommercial and Labour — Volume 9 · Source page ٢٧٠

  15. - بوجه عام

    Principle 1544The circuit constituted at the Court of First Instance pursuant to Decree-Law No. 42 of 1988 concerning the liquidation of situations arising from forward share transactions. Its jurisdiction extends only to matters formCommercial and Labour — Volume 9 · Source page ٢٧٠
  16. Principle 1545A limited liability company. Its manager has full authority to represent it. The condition for this: its memorandum of incorporation must not provide otherwise. Article 203 of Law 15 of 1960 concerning Commercial CompaniCommercial and Labour — Volume 9 · Source page ٢٧١
  17. Principle 1546Official form is required both for the memorandum of association and for the disposition of a partner’s interest; otherwise, the contract is void.Commercial and Labour — Volume 9 · Source page ٢٧١
  18. Principle 1547A limited liability company. Its constitutive contract or its amendment must be embodied in an official instrument. Effect of contravention thereof. Absolute nullity.Commercial and Labour — Volume 9 · Source page ٢٧١
  19. Principle 1549A partner in a limited liability company. Limitation of the partner's liability to the amount of the interests contributed to the capital. The effect thereof.Commercial and Labour — Volume 9 · Source page ٢٧١
  20. Principle 1550A limited liability company: its formation and the transfer of partners' interests therein require official form. - 271 - Commercial Articles 192, 197/1 of the Companies Law. This rule applies to the final contract or prCommercial and Labour — Volume 9 · Source page ٢٧١
  21. Principle 1551Assignment of a partner's interest in a limited liability company. An authentic contract. Article 197 of Law 15/1960. Its nullity for absence of authentic form.Commercial and Labour — Volume 9 · Source page ٢٧٢
  22. Principle 1552Formation and amendment of a limited liability company. Requirement that it be embodied in an official instrument. Contravention thereof. Its sanction is absolute nullity. - Assignment of a partner's interest in a limiteCommercial and Labour — Volume 9 · Source page ٢٧٢
  23. Principle 1553The legislature's imposition of a particular form for a contract or its amendment. Pursuit of a general interest connected with public policy. Failure to comply with the formality. Its effect. Non-existence of the contraCommercial and Labour — Volume 9 · Source page ٢٧٢
  24. Principle 1554Amendment of a limited liability company's agreement as regards its duration. Requires embodiment in an authentic instrument and entry in the Commercial Register. The effect of non-compliance. Its termination as of the eCommercial and Labour — Volume 9 · Source page ٢٧٢
  25. Principle 1555A limited liability company. Its management and representation. By one or more managers from among the partners or others.Commercial and Labour — Volume 9 · Source page ٢٧٢
  26. Principle 1557The prohibition on a limited liability company conducting insurance and credit operations and investing the funds of others. The reason for this prohibition. - The documents of a limited liability company must contain paCommercial and Labour — Volume 9 · Source page ٢٧٢
  27. Principle 1558A contract for a partner’s transfer of his interest in a limited liability company must be in authentic form, otherwise it is void. This nullity concerns public policy. Its consequence is that everyone is presumed to knoCommercial and Labour — Volume 9 · Source page ٢٧٣
  28. Principle 1561Formation or amendment of a limited liability company. It must be embodied in an authentic instrument. Contravention thereof. Its effect. Absolute nullity because the formality concerns public policy. A power of attorneyCommercial and Labour — Volume 9 · Source page ٢٧٣
  29. Principle 1562The liability of a partner in a limited liability company is determined by the amount of the contribution the partner makes to its capital, and its liability is within the limits of its capital as a legal person.Commercial and Labour — Volume 9 · Source page ٢٧٣
  30. Principle 1563The memorandum of association of a limited liability company: its conclusion or amendment or the transfer of partners' shares. May be in a single official instrument. Condition thereof.Commercial and Labour — Volume 9 · Source page ٢٧٣
  31. Principle 1564A partner in a limited liability company may transfer their interest to another partner. Its effectiveness against the partners without the need for their consent. The condition thereof. - 273 - CommercialCommercial and Labour — Volume 9 · Source page ٢٧٣
  32. Principle 1565The particulars that the documents of a limited liability company must bear. Their purpose. Contravention thereof. Its effect. Establishment of the joint and several liability of its managers out of their personal assetsCommercial and Labour — Volume 9 · Source page ٢٧٤
  33. Principle 1566The particulars that the documents of a limited liability company must bear. The sanction for omitting them. Its effect. Liability of the company’s managers towards third parties out of their own assets. The condition foCommercial and Labour — Volume 9 · Source page ٢٧٤
  34. Principle 1568A partner’s transfer of his interest in a limited liability company. Must be entered in the Commercial Register. The effect of failure to do so. It may not be invoked against third parties or the other partners.Commercial and Labour — Volume 9 · Source page ٢٧٤
  35. Principle 1569Assignment of interests in a limited liability company. It must be in an authentic instrument and entered in the Commercial Register. Its effect is amendment of the company's memorandum of association invoking the assignCommercial and Labour — Volume 9 · Source page ٢٧٤
  36. Principle 1571A non-Kuwaiti’s deposit of funds with a bank or company for investment on the depositor’s behalf. Permissible. The condition therefor. That it fall within its objects. Applicability of this to all companies, including loCommercial and Labour — Volume 9 · Source page ٢٧٤
  37. Principle 1572The liability of the manager of a limited liability company for damage suffered by third parties as a result of his violation of the provisions of the law or the company’s articles, or of an error in management. TortiousCommercial and Labour — Volume 9 · Source page ٢٧٤
  38. Principle 1573The general rule is that a non-Kuwaiti may not engage in trade unless he has a Kuwaiti partner. The exception thereto: funds he deposits with banks or companies or agreements he concludes with them to invest those funds Commercial and Labour — Volume 9 · Source page ٢٧٥
  39. Principle 1574Amendment of the memorandum of association of a limited liability company and increase or reduction of its capital. The majority required therefor.Commercial and Labour — Volume 9 · Source page ٢٧٥
  40. Principle 1576Depositing funds with banks or companies, investing funds with them, and dealing in foreign currency and precious metals. Its permissibility for a non-Kuwaiti. Law 45/1989 amending Art. 23 of the Commercial Law. The condCommercial and Labour — Volume 9 · Source page ٢٧٥
  41. Principle 1577Documents of a limited liability company. Must bear particulars leaving no room for doubt concerning its type, identity and capital. Omission of these particulars. Its effect. Joint and several liability of its manager oCommercial and Labour — Volume 9 · Source page ٢٧٥
  42. Principle 1578The prohibition on a non-Kuwaiti engaging in commerce individually. Excepted from this: 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 ٢٧٥
  43. Principle 1579Exchange companies. The nature of their business. - Speculation and investment of funds for the account of third parties. Limited liability companies are prohibited from undertaking them, and they are confined to sharehoCommercial and Labour — Volume 9 · Source page ٢٧٥
  44. Principle 1580The memorandum of a limited liability company or any subsequent agreement modifying its effects. The requirement that it be embodied in an authentic instrument. Failure to do so. Its absolute nullity. An example of the nCommercial and Labour — Volume 9 · Source page ٢٧٦
  45. Principle 1581The particulars that the papers of a limited liability company must bear. The sanction for their omission: joint and several liability of its manager in the manager’s private assets towards third parties. Recourse againsCommercial and Labour — Volume 9 · Source page ٢٧٦
  46. Principle 1582Official form is an essential element of a contract assigning a partner’s interest in a limited liability company. - Assignment of an interest in a limited liability company. Its effect extends to the company, the partneCommercial and Labour — Volume 9 · Source page
  47. Principle 1583Partners in a limited liability company are jointly and severally liable with their personal assets toward third parties whenever the company's contracts, invoices, advertisements, papers, and printed materials omit the Commercial and Labour — Volume 9 · Source page
  48. Principle 1584A limited liability company; its name and what its business name, contracts, invoices, advertisements, papers, and printed materials may contain. Failure of all its papers to bear those particulars. Its effect. Its managCommercial and Labour — Volume 9 · Source page
  49. Principle 1585The absence of particulars from the documents of a limited liability company. The resulting joint and several liability of its managers in their personal assets toward third parties. The effect of this.Commercial and Labour — Volume 9 · Source page
  50. Principle 1588Official form is required for the establishment of limited liability companies and for the transfer by any partner of his interest therein. Failure to complete this. Its effect: nullity. - A void contract does not in itsCommercial and Labour — Volume 9 · Source page
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