SCC 1482/2019
This case involved a breach of an investment agreement. Key points were that the company had mismanaged the investment and the claimant had sufficient evidence.
Background
A claimant filed a case against a company before the court. He said that he had paid the company 95000 Riyals in order to invest in grocery products. He said that the company had failed to commit to their obligations. He requested the court to order the company to pay him the amount.
The court said that the case documents revealed that the claimant had provided the court with the documents that proved his claim including a bill signed by the company. The court said that the case documents revealed that the company had mismanaged the investment and failed to commit to their obligations.
Decision
The court ruled that the company should pay the claimant 161000 Riyals.
The Court of Appeal – Jeddah upheld the ruling based on the same grounds