Q: Q1- A loan agreement was signed between P1 and P2 for a fund to be put in a trading as a favour from P2 to P1. P2 changed his mind and did not release the fund. Trading proceeded with another fund and the return during the agreed period was substantial. Is P2 liable to P1 for the earnings which could have been realized? Q2- A trading fund was in operation based on an agreement between P1 and P2. P1 owed P2 $X to be paid over 18 months. P1 funded the P2 account for the entire loan plus interest. P2 allowed P1 to trade with the fund as long as the loan liability is covered and loan payment is paid from proceeds, it was agreed that additional profit over the loan payments can be withdrawn by P1. P2 had full control over the funds but not the trading. P2 changed his mind and added 20% buffer to remain in the account as added security. The trading hit a downturn and fund got liquidated. Is P2 liable for the loss of the 20% additional buffer which he required to keep in the trading fund?

Q: I opened a bar business in RAK with a Lebanese partner. I financed it with AED 280,000 and he does the operation. Unfortunately, I withdrew my partnership as I cannot provide more money as he asked. We agreed on making an agreement that I will cancel my partnership and he will pay me the said amount every month by AED 5,000. The problem is that he didn't pay until now and its been 2 years. Every time I ask him he is saying no money yet, till he told me that we need to re-calculate the AED 280,000. He didn't meet me to re-calculate. Then, he moved the bar from the rooftop to the 4th floor and it's much bigger. So, he is saying that the bar is a different one already and we are not talking about the same bar anymore. I have an agreement signed, that if he gets a partner, he will pay me as well as if he sells the bar. Do I have any chances of getting the money back?

Q: It is a business partnership agreement. Before we start, we agreed that I will go to finance everything even the renewal of his car. The only contribution he can do is marketing and client talks. His car has been renewed with all my money. Since we don't have the license at that time, I agreed to name the insurance with his wife's name. Then, as we got the license and operated, but the sale was not enough, I tried my very best to sustain all the financial needs until I got drained already. They were staying in my flat as what he offered for the value of the car was 50/50 share. He estimated the value and sold his car to me at 8K. They stayed in my flat for four months without paying anything. So what I did, I charged their bills in the 8K equal value of the car until my balance completely clear out because of the charges. Now, this guy suddenly withdrew his business partnership with me. And even took the car without giving me at least 50% of the value of it. What should I do?

Q: Hello, I paid a deposit for a completed apartment presented by an agent. After I paid the deposit, the agent told me that it must be paid only with a bank loan. Somehow, I was forced to take a loan. But in this reservation form, there is nothing about how it will be paid. I refused and asked for a return, the agent tells me that it is not possible. I sent an email to the company and I filled out a form request for a refund. Since then, I am waiting. I need help.

The UAE continues to strive to modernize its laws and create more flexibility in meeting the needs and requirements of investors and businessmen and elevate its economy to the highest levels of growth and development.

على مدى العامين الماضيين، أصبحت أوامر الدفع شائعة جدًا في دولة الإمارات العربية المتحدة. تتناول هذه المقالة كيف ومتى يمكن لأحد الأطراف التقدم بطلب للحصول على أمر دفع وكيف تتعامل محاكم دولة الإمارات العربية المتحدة مع مثل هذا الطلب عندما يبرم الطرفان اتفاقية تحكيم.

The provisions of this law, promulgating UAE Civil Code, govern the civil transactions in the United Arab Emirates. The commercial transactions remain subject to the laws and regulations applicable in their regard.

This Law applies to merchants, as well as to all acts of commerce carried out in the UAE by any person even though he be not a trader. Commercial matters regarding which specific Federal laws are issued shall be subject to the provisions of such laws, and to the provisions hereof which do not contradict with said laws.

The law promulgates UAE Civil Procedures Code (Civil Procedure Law) which governs civil procedures in the United Arab Emirates, including the prosecution before the courts, litigation and execution.

The provisions of this law On Evidence in Civil and Commercial Transactions (Law of Evidence) govern evidence in civil and commercial disputes in the UAE.