Overview of KSA Civil Transaction Law
One of the notable features of the Law is its applicability to incidents, contracts and agreements that were entered before the effective date of the Law with the exception of incidents covered by any statutory provision or judicial principle related to the underlying incident and conflicting with the Law.
Although the title indicates ‘civil transactions’; yet, the Law contains provisions that are meant to regulate both civil and commercial matters insofar as they are not governed by other statuto-ry laws and provisions under the laws covering those transactions. For instance, the Law briefly covers issues related to Memorandum of Association related to companies; however, the provi-sions will not be applicable to companies formed under the Companies Law, 1443 H.2
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