SCA 420/2019

This case involved money invested in return for a profit share where profits had not been paid. The money had been passed on to a third party who had not paid the defendant.

Background

A claimant filed a case against a defendant before the court. He said that he had paid the defendant 194000 Riyals in order to invest it in exchange for a profit share. He said that he received 93630 Riyals as profits from the defendant.

Decision

The defendant claimed that he had received the mentioned amount from the claimant but he paid it to a third party in order to invest it. He said that he was ready to pay the amount back if he received the money from the third party.

The court ruled that the defendant should pay the claimant 100370 Riyals.

The court of appeal upheld the ruling based on the same grounds.

The defendant made a plea against the ruling.

The Court of Appeal – Jeddah dismissed the plea.