SCA 1267/2019
This case involved a request for payment of capital and profits by a claimant who had invested in a business. A key point was there was no evidence of the defendant's mismanagement and he had asked for time to sell property purchased with the investment.
Background
A claimant filed a case against a defendant before the court. He said that he had paid 600000 Riyals to the defendant in order to invest. He said that the defendant had failed to commit to their obligations. He requested the court to order the defendant to pay him the capital and the profits.
The defendant admitted the transaction but he requested the court to give him a period of time in order to sell the property he had invested the money in.
Decision
The court said that the case documents revealed that the claimant had failed to provide the court with evidence of the defendant's mismanagement of the investment. The court said that the defendant had expressed his willingness to pay the capital to the claimant when he sold the mentioned property.
The court dismissed the case.
The Court of Appeal – Mecca upheld the ruling based on the same grounds.