|
The Possibility of Buying Debt Arising from Negotiable Instruments in English and Iranian Law
|
Ahmad Esfandiari1    , Solmaz Kantourchian2 , Ali Reza Maleki3 |
1- Assistant Professor, Department of Private Law, Sari Branch, Islamic Azad University, Sari, Iran.
2- Ph.D Student of Private Law, Science and Research Branch, Islamic Azad University, Tehran, Iran.
3- M.A. of Private Law, Faculty of Law, University of Qom, Qom, Iran. |
|
|
Abstract: (648 Views) |
Background and Aim: One of the complicated issues related to financing contracts is to give facilities to applicant in exchange for the purchase of credit documents, which is called "factoring" and "debt purchase" in the British and Iranian legal systems, respectively. Although in English general law, due to the analysis of such an act based on the institution of novation and necessity of agreement of debtor, creditor and transferee, the possibility of such assignment was faced with problems in jurisprudence and civil law, there is no doubt about the possibility of such assignment by agreement of creditor and transferee, although there is no consensus on nature and conditions of such a legal act, especially possibility of exchanging two debts.
Materials and Methods: The research method in this article was descriptive-analytical.
Ethical Considerations: All ethical principles have been followed in writing this article.
Findings: Although there are problems in the general rules of two English and Iranian legal systems, regarding the possibility of assigning such a demand to each of them, there is consistency in doing it based on negotiaable instruments.
Conclusion: Today, factoring operations in British law and debt purchasing in Iranian law are carried out in context of negotiable instruments, based on which, negotiable instruments are considered due to easy transferring of rights arising from it by creditor to new holder and do not transfering of obligations and guarantees of former signatories, it has been decided and two legal systems have come closer to some extent in this regard.
|
|
| Keywords: Instrument, Transfer, Discount, Debt Purchasing, Exchange. |
|
|
Full-Text [PDF 675 kb]
(181 Downloads)
|
Type of Study: Research |
Subject:
Special
Received: 2023/01/15 | Revised: 2023/03/19 | Accepted: 2023/04/23 | Published: 2023/06/22
|
|
|
|
|
|
|
| Send email to the article author |
|
|
|
| Add your comments about this article |
|
|
|
.png)
