News

Agreement Under Uae Law

The Dubai Court of Cassation (Case 163 of 2007 ruled on 11 September 2007) ruled that: Article 333 of the Civil Code provides another exception, as another person deals with another person`s responsibility for a previous agreement. This section states that if a person fulfills the obligations of a third party on the instruction of a third party, that person is entitled to an appeal against the person he directs for what he has done on his behalf, that person becomes the position of the original obligation in his right to demand against the debtor. Section 3 (2) of the Civil Code contains a statutory provision providing that the heirs, beneficiaries and successors of the contracting parties to this specific contract are included in the part of the treaty. Article 250 of this section states that the effects of the agreement, without prejudice to the estate provisions, extend to the parties and their general successors, without prejudice to the estate provisions, unless it results from the contract or the nature of the transaction or legislation that the effects should not extend to a general successor. The purpose of “comprehensive agreements” clauses in English legal contracts is to exclude liability for misrepresentation in all its forms, with the exception of fraudulent or reckless misrepresentation. Under Chapter 4 of the Commercial Transactions Act, period 18 of 1993, the documentary credit includes the rights of third parties to the contracts of another. Section 428 of the Act provides that this agreement is a contract under which, at the request of its client (the person who orders the opening of the loan), a bank opens a credit within a certain amount and for a fixed term for the benefit of another person (the beneficiary). This agreement impairs the security of documents that constitute goods transported or destined for transport. In this chapter, it is also stated that a documentary credit contract is considered independent of the contract that caused the opening of the credit and that the bank remains foreign to such a contract. It is also preferable that the applicable rate be the rate applicable to the later date of payment (not the date of the agreement). The fact is that the person to be paid receives the real value of the foreign currency amount when it is paid, and that the argument avoids that the person was owed more or less than the person on the date of payment because of the fixed price of the monetary movements.