Civil Transactions Law
Art. 492Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
1. If an agent makes a purchase at an unconscionable price or at a price higher
than the price specified by the principal, the contract shall, if not ratified by
the principal, be deemed concluded for the benefit of the agent. If, however,
the contract is ratified by the principal, it shall be enforceable against him
and he may demand compensation from the agent.
2. A purchase shall be deemed made for the agent's account if the agent
declares, in the presence of the principal, that he purchased the thing for his
own account.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded