Set Off and Its Legal Considerations One legal situation that may arise for individuals is being simultaneously a debtor and a creditor of the same party. In such circumstances, the two opposing obligations may be extinguished against one another, resulting in a set off. One of the essential requirements for a set off to occur...Read More

The Difference Between Holding Companies and Corporate Mergers Pursuant to Article 111 of the Amendment to the Direct Taxation Law enacted in 2001, as well as Item 16 of Article 1 of the Law Amending Certain Provisions of the Fourth Economic, Social, and Cultural Development Plan of the Islamic Republic of Iran and the Implementation...Read More

Amendments to the Laws Governing Bearer Checks A check is a financial instrument used for present purchases and for payment at a future date and is recognized as one of the most important commercial instruments. The practical use of a check becomes apparent when a person intends to purchase goods or services and defers payment...Read More

Installment Sale Financing Facilities Sale, which is legally referred to as bay‘, is one of the lawful forms of transactions and consists of the transfer of ownership of property by the seller to the buyer in exchange for a consideration paid by the buyer. A sale is the transfer of ownership of a specific asset...Read More

Transfer of Rights and Obligations Contained in a Bill of Lading Under common law, contracts were traditionally not transferable. As a result, the transfer of a bill of lading with the intention of transferring ownership of the goods could not, by itself, transfer the rights and obligations arising from the contract of carriage. Such a...Read More

Types of Visas for Immigration A visa is an official document that grants permission to enter, transit through, or reside in a country. The issuance of visas is the responsibility of each state regarding foreign nationals. Granting a visa is generally subject to the payment of prescribed fees and the submission of required documentation. It...Read More

Rescission (Ighaleh) in Banking Transactions Rescission, known in Iranian law as Ighaleh, refers to the termination of a transaction by mutual agreement of the parties. The same mutual consent that brings a contract into existence may also dissolve it and prevent the continuation of its legal effects, thereby restoring the parties to their original position....Read More

International Maritime Organization (IMO) Prior to the Second World War, matters relating to international shipping lacked a permanent institutional framework. Issues requiring international agreements and arrangements were addressed through ad hoc conferences convened for that purpose. In 1889, during the well-known Washington Conference, the establishment of a permanent international maritime commission was proposed, but no...Read More

Civil Liability in Sports Whenever a person or persons are legally required to compensate another for damage suffered, they are deemed to bear civil liability toward that person. Civil liability arises either from contractual obligations or independently of any contract. Contractual liability results from the failure to perform obligations or to honor commitments arising from...Read More

The Legal Nature of Electronic Payment Undoubtedly, every form of commercial activity presupposes the payment of a price. In general, it is irrelevant to the merchant whether the payer is necessarily the buyer himself. What matters is that the payment is made. Accordingly, the concept of electronic payment must be distinguished from the identity of...Read More