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. - خطابات الضمان

    Principle 455A documentary credit is a contract under which the bank undertakes to open a credit at the request of one of its customers in favour of another person, the beneficiary, against documents representing goods transported orCommercial and Labour — Volume 9 · Source page ٩١
  2. Principle 456Letter of guarantee. Its nature. The beneficiary has no right to demand payment thereof from the bank except in accordance with the conditions stipulated in the letter.Commercial and Labour — Volume 9 · Source page ٩١
  3. Principle 459The issuer of a letter of guarantee is obliged to pay the amount stated therein to the beneficiary. The effect of that payment. Subrogation of the payer to the beneficiary's rights against the instructing party.Commercial and Labour — Volume 9 · Source page ٩١
  4. Principle 460Letters of guarantee are banking operations and are governed by the rules of the Commercial Code, not by the provisions of the Civil Code concerning possessory pledges or any other provisions.Commercial and Labour — Volume 9 · Source page ٩١
  5. Principle 461A letter of guarantee. Its nature. The obligation arising therefrom is independent of the relationship between the bank and the customer and that between the latter and the beneficiary. Issuance of a letter of guarantee Commercial and Labour — Volume 9 · Source page ٩١
  6. Principle 462A letter of guarantee is an undertaking issued by a bank at the customer's request to pay a specified sum to the beneficiary whenever the latter requests it within the period specified therein. - A letter of guarantee maCommercial and Labour — Volume 9 · Source page ٩٢
  7. Principle 463A letter of guarantee is an undertaking by the bank, at its customer's request, to pay a specified amount to the beneficiary whenever the latter requests it within the period specified therein. The reason for this. The iCommercial and Labour — Volume 9 · Source page ٩٢
  8. Principle 464The sums represented by a letter of guarantee are considered funds owned by the bank until they are disbursed to the beneficiary. The effect thereof. The customer cannot claim them, and his creditors may not attach them Commercial and Labour — Volume 9 · Source page ٩٢
  9. Principle 465Letter of guarantee: its definition and the relationships arising from the bank's obligation under it. - Issuance of a letter of guarantee for a specified amount does not prevent the beneficiary from claiming less than tCommercial and Labour — Volume 9 · Source page ٩٢
  10. Principle 466A letter of guarantee. It gives rise to 3 relationships that do not overlap and do not affect one another. - The bank, upon paying the value of the letter of guarantee to the beneficiary, may have recourse against its cuCommercial and Labour — Volume 9 · Source page ٩٢
  11. Principle 467Management of another's affairs without mandate. Its nature. - A bank may not extend the validity of a letter of guarantee without the applicant's express consent; otherwise its act is ineffective against the applicant. Commercial and Labour — Volume 9 · Source page ٩٢
  12. Principle 468The relationship between the bank issuing a letter of guarantee and the beneficiary. Its separation from its relationship with the debtor customer. The bank's obligation - 92 - Commercial to pay the amount demanded by thCommercial and Labour — Volume 9 · Source page ٩٢
  13. Principle 469Letter of guarantee. Its definition. - In its undertaking under the letter of guarantee, the bank is not considered an agent of its customer; rather, it is bound thereby as principal.Commercial and Labour — Volume 9 · Source page ٩٣
  14. Principle 470The bank's obligation to pay the beneficiary what it has undertaken. Must be performed during the validity period of the guarantee. Receipt of the demand after the last day of the guarantee period. Effect. Lapse of the bCommercial and Labour — Volume 9 · Source page ٩٣
  15. Principle 471Expression of intent: when it produces. Its effect. Its arrival at the person to whom it is addressed. A presumption of his knowledge of it. - The management appointed over the bank by the Iraqi occupation authorities. ICommercial and Labour — Volume 9 · Source page ٩٣
  16. Principle 473A letter of guarantee. Its nature and the independence of the relationships arising from it between the bank, the customer and the beneficiary. The effect of its issuance at the customer's request. - The amounts represenCommercial and Labour — Volume 9 · Source page ٩٣
  17. Principle 474Letter of guarantee. Its definition and the relationships it entails between its parties. Independence of each relationship from the other. Effect thereof. - 93 - Commercial - The bank's obligation to pay the beneficiariCommercial and Labour — Volume 9 · Source page ٩٣
  18. Principle 475A subcontractor has a direct action against the employer for what is due to him from the main contractor. The condition therefor. The employer must owe the main contractor a debt arising from the contract for works. - IsCommercial and Labour — Volume 9 · Source page ٩٤

  19. - الحسابات الجارية

    Principle 476Letter of guarantee. Its nature. The obligation arising from it is independent of the relationship between the bank and the customer and that between the latter and the beneficiary. - Issuance of a letter of guarantee atCommercial and Labour — Volume 9 · Source page ٩٤
  20. Principle 477Closure or termination of a current account at the will of either party. Its limit and effect: unless they agree on a specified time for its termination, and no new transactions may thereafter be entered into it. The basCommercial and Labour — Volume 9 · Source page ٩٤
  21. Principle 478Current account. What distinguishes it from an ordinary account. Condition of reciprocal payments.Commercial and Labour — Volume 9 · Source page ٩٤
  22. Principle 479The current account differs and is distinguished from other accounts by the intermingling and interchange of each party's payments therein. Article 388 of the Commercial Code. - 94 - CommercialCommercial and Labour — Volume 9 · Source page ٩٤
  23. Principle 481Banking facilities (opening credit. 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 ٩٥
  24. Principle 482A current account. Its nature and characteristics. - Attachment of a current account before its closure is impermissible. The reason for that. 483 The contracting parties' intention to exchange payments. An essential conCommercial and Labour — Volume 9 · Source page ٩٥
  25. Principle 484Closure of a current account of indefinite duration at the will of one of its parties. Observance of the notice periods agreed upon or customary. Art. 399, Commercial Law.Commercial and Labour — Volume 9 · Source page ٩٥
  26. Principle 485Interest on payments into a current account arises only by agreement. Inferring the existence or absence of such agreement. Within the authority of the court of fact, provided the inference is reasonable.Commercial and Labour — Volume 9 · Source page ٩٥
  27. Principle 487The current account which exchange companies are prohibited from operating is an ancillary contract facilitating performance of other contracts, all merged into a single receptacle to unify methods of payment and performCommercial and Labour — Volume 9 · Source page ٩٥
  28. Principle 488Banking facilities provided by banks to their customers. They do not constitute a current account. The reason for this.Commercial and Labour — Volume 9 · Source page ٩٦
  29. Principle 489The current account. Its most important distinction from an ordinary account. The condition of exchange of payments. When the current account loses this character.Commercial and Labour — Volume 9 · Source page ٩٦
  30. Principle 490The entry of transactions and their merger into the current account and their loss of individuality and independence therein. Its effect. The rules governing current-account interest upon them. - Compound interest. The lCommercial and Labour — Volume 9 · Source page ٩٦
  31. Principle 491Closing a current account of indefinite duration at the will of either party. Permissible. Necessity of observing the agreed notice periods. Or those established by custom. Article 399, Commercial Law.Commercial and Labour — Volume 9 · Source page ٩٦
  32. Principle 492The current account which exchange companies are prohibited from operating is an ancillary contract facilitating the performance of other contracts, all merged into a single receptacle to unify methods of payment and perCommercial and Labour — Volume 9 · Source page ٩٦
  33. Principle 495A current account whose duration has not been specified and whose closure neither party requested before the demand for repayment, with no agreement on the notice period. It is deemed closed and statutory interest runs fCommercial and Labour — Volume 9 · Source page ٩٦
  34. Principle 496The entries in a current account continue until its closure, whereupon the balance debt is deemed due for payment and is considered an ordinary debt to which the rules governing current accounts do not apply.Commercial and Labour — Volume 9 · Source page ٩٧
  35. Principle 497Entry of a debt into the current account. Its effect. It loses its identity and becomes an item of the account, merges into it, and is transformed into a new debt that cannot be paid or set off separately and cannot valiCommercial and Labour — Volume 9 · Source page ٩٧
  36. Principle 498Closure of a current account. Its effect. The entries therein become mere items that lose their characteristics and merge, giving rise to a single debt. Transfer of the securities to the debt represented by the final balCommercial and Labour — Volume 9 · Source page ٩٧
  37. Principle 499A current account. The rule is its indivisibility and the impermissibility, while the account is operating, of claiming that any individual item is due. The exception: the borrower's drawing up an instrument for the loanCommercial and Labour — Volume 9 · Source page ٩٧
  38. Principle 500Entry of a debt secured by consensual security in a current account. Its effect. It becomes an item thereof, merging with the other items and resulting in the balance debt. - The pledge securing the debt is not extinguisCommercial and Labour — Volume 9 · Source page ٩٧
  39. Principle 501Upon closure of the current account, the balance debt becomes an ordinary debt, to which interest at the exchange rate that applied to its individual entries while it was operating does not apply; statutory or agreed intCommercial and Labour — Volume 9 · Source page ٩٧
  40. Principle 502The rule of indivisibility of the current account. Its implication. Payment of any individual item in it may not be claimed until the account is settled. The exception. Its scope. Its effect.Commercial and Labour — Volume 9 · Source page ٩٧
  41. Principle 504Opening a bank account for multiple persons with joint and several creditor entitlement, whether an ordinary or current account. Its effect. Each of them has, against the bank, the full right to the account as if it wereCommercial and Labour — Volume 9 · Source page ٩٨
  42. Principle 507Opening a bank account for several persons with active solidarity among them, whether an ordinary or a current account. Its effect. Each has the full right to the account against the bank as though it were registered in Commercial and Labour — Volume 9 · Source page ٩٨
  43. Principle 508The account statement in respect of which an action seeking correction is inadmissible after six months have elapsed from the date the customer receives it. What is meant by it. What does not qualify as such. - What is mCommercial and Labour — Volume 9 · Source page ٩٨
  44. Principle 509The current account: although its rules appear in the section concerning banking operations in the Commercial Code, it is not restricted to banking operations. The current account: its definition and its most important dCommercial and Labour — Volume 9 · Source page ٩٨
  45. Principle 510Division of a current account. Impermissible. Payment of any individual account entries may not be claimed before its closure and determination of the final balance that may properly be claimed. Reason therefor.Commercial and Labour — Volume 9 · Source page ٩٨
  46. Principle 512Bank deposit. A contract granting the bank ownership of the money and the power to dispose of it according to its needs, with an obligation to return it to the depositor. - 98 - Commercial - A deposit earmarked for a speCommercial and Labour — Volume 9 · Source page ٩٨
  47. Principle 513Entry of a debt into the current account. Its effect. - The current account absorbs all rights entering it so that they become entries, without completely severing their connection to their source, and does not extinguisCommercial and Labour — Volume 9 · Source page ٩٩
  48. Principle 515Agreement to enter a debt secured by contractual security in the current account. The security transfers to secure the account balance upon closure to the extent of the debt, without regard to that a debt or payment enteCommercial and Labour — Volume 9 · Source page ٩٩
  49. Principle 516Although the current account is regulated in the section concerning banking operations in the Commercial Code, it is not confined to banking operations. - The current account. Its definition and its most important distinCommercial and Labour — Volume 9 · Source page ٩٩
  50. Principle 517Division of a current account. Impermissible. No claim may be made for entitlement to any individual account item before the account is closed and the final balance that may properly be claimed is ascertained. The reasonCommercial and Labour — Volume 9 · Source page
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