Warranties in Marine Insurance Policies Although an insurer is protected in an insurance contract by the principle of utmost good faith, proving a lack of good faith or non-disclosure of material facts is exceptionally difficult. For that reason,...
Banking Facilities “Facilities” refers to formal financial assistance programs offered by banks and financial institutions to support companies that require working capital. Such facilities may be granted to natural persons or legal entities that, in connection with a...
International Custom Unlike domestic legal systems, where legislation plays a central role in regulating legal relationships, international law assigns a special status to custom. This is largely because states themselves participate in its formation and therefore do not...
Claiming a Debt Without Written Evidence In some situations, individuals may provide money or other assets to another person without obtaining a receipt, promissory note, or any written acknowledgment. This often happens due to family relationships, friendship, or...
Bankruptcy in Parent Companies Under Iranian law, the concept of bankruptcy is largely addressed in the context of the establishment and operation of economic entities, and comparatively little attention has been given to the broader economic importance of...
