SCA 1522/2019
This case involved the breach of an investment agreement. Key points were there was an admission of the transaction and a valid signed contract. Payment of lawyer's costs were also ordered.
Background
A claimant filed a case against a defendant before the court. He said that he had paid him 500000 Riyals in order to invest. He said that the defendant had failed to commit to his obligations. He requested the court to order the defendant to him the capital and the profits.
Decision
The court said that the case documents revealed that the contract provided by the claimant was valid and signed by the two parties. The court said that the defendant had already admitted the transaction.
The court ruled that the defendant should pay the claimant 500000 Riyals in addition to 150000 Riyals for the expenses of the lawyer.
The Court of Appeal – Jeddah upheld the ruling.