ECC 1902/63
Type
Case
Court
Egypt Court of Cassation
Jurisdiction
Egypt
Taxonomy
General Company Law & Business Entities
Copyright
LexisNexis
Decision date
13 Feb 2001
Catchwords
Partnership – Partnership Agreement – Profit – Loss
This case involved a profit share due to a partner under a partnership agreement. It has been agreed the partner should not bear a loss. Article 515 of the Civil Law stipulated that if a partner agrees not to participate in the profit/loss of the company, the company contract should be dismissed.
Background
A claimant filed a case against two defendants and requested the court order them to pay him his share in the profits of a bakery for June and July 1988 (valued at 60 Egyptian Pounds). The claimant then amended his requested and requested the court to order them to provide an account statement for the period from 01/01/1979 to 23/11/1983 and order them to pay a fine for each day of the delay.
The defendants filed a case against the claimant and requested the court to dismiss the company contract with the claimant.
The court ruled the defendants should pay the claimant 5431.19 Egyptian Pounds.
The defendants appealed the ruling before the court of appeal. The court abandoned the appealed ruling and rejected the case.
Decision