NULLITY OF LIABILITY CONDITION IN LIMITED PARTNERSHIP CONTRACT IN ISLAMIC BANKING

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ELHAM SADIQ; SAADI HOSSEIN ALI; ASADI HAMID

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Journal Paper

Paper Information

Journal: JOURNAL OF ISLAMIC LAW AND JURISPRUDENCE RESEARCHES Year:2014 | Volume:10 | Issue:37 Page(s): 37-56

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Information Journal Paper

Title

NULLITY OF LIABILITY CONDITION IN LIMITED PARTNERSHIP CONTRACT IN ISLAMIC BANKING

Author(s)

ELHAM SADIQ | SAADI HOSSEIN ALI | ASADI HAMID | Issue Writer Certificate

Keywords

LIMITED PARTNERSHIPQ2

LIABILITYQ2

BANKING OPERATIONQ2

CONDITION OF ACTQ2

CONDITION OF RESULTQ2

Abstract

One of the bank contracts which is significant in both allocation and equipping of sources is LIMITED PARTNERSHIP contract. The agent in this contract is considered as trustee and his claim on termination of stock without being excess or negligent is accepted. He would be agent‘s associate in both benefits and losses. Therefore this contract won’t have an economic justification in BANKING OPERATIONs, so in order to keep LIMITED PARTNERSHIP contract in banking contracts and also put the LIABILITY of stock on the agent, the Islamic researchers have suggested some solutions like condition of LIABILITY to be brought as an implicit alternative contract. However, two aspects are to be considered for validity of condition of LIABILITY; first, it should not be against the exigency of the contract of LIABILITY and second it should not be opposing with Quran and narrations. Although some are arguing about the nullity of condition of LIABILITY if it is against the exigency of contract, we will try to review and discuss about that theory based on narrations and approaches of lawyers and Islamic scholars and finally we would suggest a new theory which is called “disaccord of condition of LIABILITY with Quran in LIMITED PARTNERSHIP contract”.

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APA: Copy

ELHAM, SADIQ, SAADI, HOSSEIN ALI, & ASADI, HAMID. (2014). NULLITY OF LIABILITY CONDITION IN LIMITED PARTNERSHIP CONTRACT IN ISLAMIC BANKING. JOURNAL OF ISLAMIC LAW AND JURISPRUDENCE RESEARCHES, 10(37), 37-56. SID. https://sid.ir/paper/134320/en

Vancouver: Copy

ELHAM SADIQ, SAADI HOSSEIN ALI, ASADI HAMID. NULLITY OF LIABILITY CONDITION IN LIMITED PARTNERSHIP CONTRACT IN ISLAMIC BANKING. JOURNAL OF ISLAMIC LAW AND JURISPRUDENCE RESEARCHES[Internet]. 2014;10(37):37-56. Available from: https://sid.ir/paper/134320/en

IEEE: Copy

SADIQ ELHAM, HOSSEIN ALI SAADI, and HAMID ASADI, “NULLITY OF LIABILITY CONDITION IN LIMITED PARTNERSHIP CONTRACT IN ISLAMIC BANKING,” JOURNAL OF ISLAMIC LAW AND JURISPRUDENCE RESEARCHES, vol. 10, no. 37, pp. 37–56, 2014, [Online]. Available: https://sid.ir/paper/134320/en

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