Saudi Gazette report

RIYADH — The Civil Transactions Law, approved by the Council of Ministers on Tuesday, aims to regulate the provisions of contracts and financial dealings in daily public life.

Okaz newspaper published the most significant features of the law, which is regarded as a landmark achievement in the Kingdom’s ongoing judicial reforms.

According to the sources, the new law regulates the provisions of contracts and financial transactions in daily public daily life, such as regulating the sale and lease contracts and partnerships.

There are specific provisions in the law to compensate damages in the event of an act by a person causing harm to others, such as property damage or self-harm.

The law also clarifies the rules that determine the amount of compensation to which the injured person is entitled to; setting rules and provisions that guarantee creditors the fulfillment of their rights from debtors and balancing the interests of creditors and those of debtors.

The law also clarifies the regulating provisions of ownership, and a statement of the restrictions on ownership, such as restricting the right of a neighbor not to use his right in a way that harms his neighbor.

There are provisions in the Civil Transactions Law that pinpoint the right to compensation for damage including compensation for lost earnings.

If the affected person was waiting for gain or profits that are almost certain and then another person harmed him until he lost this realized profit, then the aggrieved person has the right to claim compensation for the lost earnings, and the court can intervene to get him compensation for the amount of the lost earnings.