Suspension clause in dissolution and effect on issuance, endorsement and aval, in commercial instruments and acceptance of the bill of exchange

Document Type : Research Paper

Authors

1 Department of Law and Basic, Tehran Oil Department, Oil University, Tehran, Iran

2 Department of Privat Law Zanjan Branch, Islamic Azad University, Zanjan, Iran

10.22099/jls.2020.5698

Abstract

In spite of Most, if not all the scholars believe that it is impossible to incorporate the clause for contract effect into the commercial instruments. Commercial law has not emphasized to being unconditional of all legal actions related to commercial instruments. Iranian national Law should be considered in order to articulate unconditional nature of the above mentioned actions and their scope Implicit terms of the commercial instruments in the Iranian Law have been reflected in articles 3 and 23 the cheque act and article 233 of the commercial code. In accordance with article 276 of the Iranian Commercial Code, the clause for contract effect suspension has been allowed in endorsement absolutely, such as guarantees of the bill of exchange. No rule has been laid down as to whether or not it is possible to suspend the dissolution of the legal actions related to the commercial instruments, the commercial code and the cheque act. The Key question is: What is the status of unconditional nature of the commercial instrument in Iranian law, and whether or not the effects or dissolution of all legal actions related to the dissolution of all legal actions related to the commercial instrument is seriously suspended except acceptance of the bill of exchange. The effects issuance of the bill of exchange contracts and promissory notes and endorsement contract and guarantee in all three commercial instrument may be suspended by the parties.

Keywords

Journal of Legal Studies

Volume 12, Issue 1
Winter 2020
Pages 217-245

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