SCA 1901/2019
This case involved the breach of investment agreement where there was a dispute on the invested amount and the shop which was to be invested in was stolen. The court found the parties had terminated the contract before the shop was stolen and there was no evidence of an agreement to invest after that termination.
Background
A claimant filed a case against a defendant before the court. He requested the court to order the defendant to pay him 160000 Riyals. He said that he had paid this amount to the defendant in order to invest but the defendant had failed to commit to his obligations.
The defendant said that he had only received from the claimant 110000 Riyals. He said that the shop in which he invested the money had been stolen.
Decision
The court said that the case documents revealed that the contract singed between the two parties had been terminated. The court said that the shop had been stolen after the termination of the contract. The court said that the defendant had failed to provide the evidence that the claimant had agreed to invest his money after the termination of the contract.