KUWAIT CITY, Jan 24: The Court of First Instance has obligated a real estate company to pay SAR 450,000 or its equivalent in Kuwaiti currency to a Kuwaiti citizen, and terminated the signed contracts for establishment of real estate portfolios because the company swindled the citizen.
Lawyer Ali Al-Ali filed the case on the behalf of the citizen. He explained that three contracts were signed between the company and his client.
The first contract states the establishment of real estate portfolio for SAR 350,000, and the second and third contracts for SAR 100,000.
According to item three of the contract, the manager holds logs for regular accounting related to the executed operations of selling and purchasing. These logs have to be sent regularly to his client as per the signed contracts but the company did not do so due to which his client resorted to the court to get back his money.
By Jaber Al-Hamoud Al-Seyassah Staff and Agencies