SBG 2647/2016

This case involved a failure to meet obligations in an investment contract.

Background

A claimant filed a case against a defendant before the court. He requested the court to order the defendant to pay him 34000 Riyals. He said that he had paid the defendant an amount of money in order to invest it in the financial market but the latter failed to commit to his obligations as stipulated by the contract.

Decision

The court considered the documents of the case and concluded that the defendant had violated the signed contract.

The court ruled that the contract should be dismissed and that the defendant should pay the claimant the mentioned amount.

The defendant appealed the ruling before the court of appeal.

The court dismissed the appeal and upheld the appealed ruling.