KUWAIT CITY, Feb 10: The Commercial First Instance Court annulled an investment agreement between an investor and a real estate company that is known for fraud and deception. The court ordered the company to pay the plaintiff, who was represented by Attorney Ali Jawhar, an amount of KD24,500. The defendant company promoted real estate investment opportunities in Turkiye and the United Arab Emirates (UAE) through newspapers and social media platforms, claiming high returns and guaranteed recovery of capital.
Based on these advertisements, the plaintiff agreed with the company and paid a sum of KD24,500. The plaintiff stated that he did not receive the profits agreed on and was unable to recover his funds in accordance with the terms of the contract. As a result, he filed a lawsuit requesting the annulment of the agreement and the return of the invested amount.
The court explained that the annulment of a contract is permissible when one of the parties fails to fulfill its contractual obligations, pursuant to Article 196 of the Civil Code. After examining the submitted documents, the court concluded that the contractual relationship was valid and that the defendant breached its obligations. The company failed to appear before the court despite being properly notified. Accordingly, the court upheld the termination of the agreement and ordered the company to refund KD24,500, along with related expenses and attorney’s fees.
By Jaber Al-Hamoud
Al-Seyassah/Arab Times Staff
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