Elements and conditions of penalty clause validity in banking contracts

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GHASEMIHAMED ABBAS; HOSSEINABADI AMIR; Hosseini Pouya Mohsen

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Journal: Legal Research Year:2019 | Volume:22 | Issue:86 Page(s): 119-145

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Title

Elements and conditions of penalty clause validity in banking contracts

Author(s)

GHASEMIHAMED ABBAS | HOSSEINABADI AMIR | Hosseini Pouya Mohsen | Issue Writer Certificate

Keywords

penalty clauseQ1

delayed paymentQ1

accuracy conditionsQ1

banking contractsQ1

Abstract

Considering that the nature of the delayed payment has been announced non-canonical, during the legal developments after the 1979 revolution in Iran, the demand of this recompense depends on its being predicted on the terms of contract conclusion. The quantitative and qualitative importance of these kind of contracts in banking, and the existence of different judicial treatment with them, convinced the author to study about “ Principles and conditions of the accuracy of collateral contract recompense term in banking contracts” . In this article In addition to the study of Principles and conditions of the accuracy of “ terms of delayed payment contract recompense” (collateral), this is also emphasized that “ Legal delayed payment recompense” is different from “ Contractual delayed payment recompense” . Therefore, the foundations, nature, effects and also principles and circumstances of these two recompenses should be considered separately. Otherwise the uncertainties and confusion would increase. Whereas judgmental procedure could not escape from these uncertainties and confusion. In this article, according to the general rules of contracts and the accuracy of collateral terms and topics, and also bank rules, The main Principles and conditions of contract recompenses has been extracted and studied. And the result showed that deviation from these Principles and conditions, may be encounter with execution guarantee of the original contract termination or termination of the term of recompense. While the attention to these Principles and conditions makes the distinction between contract recompense and usury doubtfulness.

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APA: Copy

GHASEMIHAMED, ABBAS, HOSSEINABADI, AMIR, & Hosseini Pouya, Mohsen. (2019). Elements and conditions of penalty clause validity in banking contracts. REVUE DE RECHERCHE JURIDIQUE, 22(86 ), 119-145. SID. https://sid.ir/paper/408035/en

Vancouver: Copy

GHASEMIHAMED ABBAS, HOSSEINABADI AMIR, Hosseini Pouya Mohsen. Elements and conditions of penalty clause validity in banking contracts. REVUE DE RECHERCHE JURIDIQUE[Internet]. 2019;22(86 ):119-145. Available from: https://sid.ir/paper/408035/en

IEEE: Copy

ABBAS GHASEMIHAMED, AMIR HOSSEINABADI, and Mohsen Hosseini Pouya, “Elements and conditions of penalty clause validity in banking contracts,” REVUE DE RECHERCHE JURIDIQUE, vol. 22, no. 86 , pp. 119–145, 2019, [Online]. Available: https://sid.ir/paper/408035/en

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