Background

A claimant filed a case against a defendant and requested the court to order the defendant to pay annual interest of 7.75%.

The court rejected the case.

The claimant appealed the ruling before the court of appeal. The court upheld the appealed ruling.

Decision

The claimant appealed the ruling before the court of cassation and stated in his grounds of appeal that the ruling had erred in the application of law and stated that the court had rejected his case based on the argument that the loan the defendant had received was not a commercial one, although the loans banks make are commercial in its nature regardless of the profession of the debtor.

The court stated this argument was valid because Article 5 of the Commerce Law stipulated that the loans are commercial works in their nature.

The court repealed the ruling.