Unified UAE Legislation Database

Federal Supreme Court - Commercial Appeal No. 959 of 2024 on Interest in Commercial Obligations

Status

In force

Issuing Authority

Federal Supreme Court

Effective date

XX.XX.XXXX

Official Link

https://

Session on Tuesday, 5 November 2024,

Headed by Justice Shihab Abdulrahman Al Hammadi, ‘head of the Department’, with the membership of Justices Abdullah Bubakr Al Seri and Sabri Shamsuddin Mohammed

 

(1-4) Commercial Transactions ‘Commercial Obligations and Contracts: The effect of the debtor's delay in fulfilling a commercial obligation replaced by a sum of money: Convention interest, simple interest and delayed interest’. Judgement ‘How to reason the judgement’. Appeal ‘Judgement in an appeal and the requirement to refer to the appealed judgement’.

 

1. Reasons for judgement. They must be extracted from the papers of the case, showing the examination of the defence and arguments of the parties, leading to a conclusion that has a proven origin in the papers. 

 

2. Referring the appealed decision to the grounds of the appealed judgment without facing the appellant's request before the Court of Appeal pursuant to the transitory effect of the appeal. Insufficient reasoning.


 

3. Interest on the debit balance shall be calculated at the agreed rate or the market rate if not agreed upon.
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