UAE Court obliges a repayment of 200,000 AED for breach of trust
In a recent verdict, the Abu Dhabi Family, Civil, and Administrative Claims Court ordered a young man to reimburse 200,000 dirhams to the plaintiff, who accused him of failing to fulfil their agreement to invest in digital currencies.
Background of the Lawsuit:
A lawsuit was filed by a young man against another, seeking the enforcement of a payment of 200,000 dirhams with a 12% interest rate. The plaintiff alleged that the defendant misled him into investing in digital currencies, prompting the transfer of the claimed amount to the defendant's account in two installments. Despite this, the defendant did not execute the agreed-upon investment, and there was no written agreement between the parties.
Legal Analysis by the Court:
In its decision, the court stressed that the plaintiff must demonstrate the truth of his claim in line with the Law of Evidence in Civil and Commercial Transactions. It emphasised the defendant's prerogative to refute the accusations. The plaintiff's argument rested on his claim that he gave the defendant more than 200,000 dirhams with the intention of using them to buy digital currencies, a goal the defendant did not fulfil.
The Court's'sindings and Decision:
The plaintiff's claim was supported by evidence, the court decided, adding that the defendant's account had the stated sum transferred to it. The plaintiff's claims were upheld by the court in spite of the defendant's non-appearance and lack of defence. As a result, the court decided in the plaintiff's favour, requiring the defendant to return the 200,000 dirhams as well as pay the costs of the lawsuit's fees and attorneys.
This case underscores the importance of fulfilling financial agreements and the legal obligations that accompany them. The court's decision reflects a commitment to upholding the principles of fairness and justice in disputes related to financial transactions, even in the realm of digital currencies.