Types of Contractual Conditions A condition refers to a commitment or obligation. In legal terms, a condition is a subsidiary obligation incorporated into a principal obligation, namely the contract. It represents a mutual undertaking by which the parties bind themselves to perform or refrain from a specific act within the contract.Read More

Mudarabah Financing Facilities In its literal meaning, Mudarabah refers to trading with another person’s capital. In legal and Islamic jurisprudence, Mudarabah is a contract in which one party provides capital to another for trade and, in return, receives a specified share of the profit, such as one-half or one-third. In other words, Mudarabah is a...Read More

Holding Companies Organizations are formed in various fields, including politics, social initiatives, political parties, and non-governmental organizations, each established to pursue specific objectives. Economic and commercial participation, however, is primarily defined in terms of companies and other corporate entities. Companies represent structured systems of interaction designed to achieve commercial and economic interests, and organizational relationships...Read More

Action for Judicial Confirmation of Contract Termination Due to Breach of Condition Option Termination of a contract is one of the matters that frequently gives rise to disputes between parties and may lead to litigation. A contract is an essential legal instrument in transactions, particularly in real estate dealings, as it formalizes the terms of...Read More

What Is a Court Judgment? With the increasing number of judicial cases, many individuals become involved in legal proceedings and encounter unfamiliar legal terms. One such term is a court judgment. Court judgments are generally issued after judicial examination of a case has been completed.Read More

The Four Freedoms of the High Seas The Convention on the High Seas, adopted at the Geneva Conference in April 1958, defined the positive aspect of the freedom of the seas by recognizing four fundamental freedoms, as follows: Freedom of navigation. Freedom of fishing. Freedom to lay submarine cables and pipelines. Freedom of overflight above...Read More

Obtaining a Building Permit One of the most important steps before undertaking any construction activity is obtaining official authorization from the competent authorities, in the form of a building permit. This permit confirms the legality of construction operations. In the absence of such authorization, any construction activity is considered unlawful.Read More

Multipurpose Vessels and Their Types and Applications in Maritime Transport Today, the increasing specialization of commercial sectors has led to the construction of a wide range of vessels, each designed to transport specific categories of cargo. Nevertheless, general cargo vessels have remained important and are commonly referred to as multipurpose vessels.Read More

Types of Bank Guarantees This article provides an overview of the main types of bank guarantees. Under Iranian banking practice, requests to extend the validity period of a bank guarantee are generally accepted.Read More

The Exclusive Economic Zone and the Legal Regime Governing It The third maritime zone of a coastal State is known as the Exclusive Economic Zone. Prior to the 1982 United Nations Convention on the Law of the Sea, the concept of the Exclusive Economic Zone did not formally exist. Instead, State practice primarily referred to...Read More