Legal Nature of “Hire Purchase” in Iranian and Islamic Law

Mehdi Motalebi, Hassan Khosravi

Abstract


Hire purchase contract in Iran law is known as conditional hire contract which is based on article one of the executive direction. It is a correct, legal and applicable contract which has useful privilege and is used in order to easily and holistically access to economic interest and sustainable development. Therefore it is necessary to explain it in law and Islamic law also to approve its laws and regulations. The objective of this research is to investigate the legal nature of hire purchase in Iran and Islamic law. This research is based on descriptive and library methods. According to the results due to the lack of law records in civil code, hire purchase has not been explained in Iran law and needs to be characterized separately.

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DOI: http://dx.doi.org/10.5539/jpl.v10n1p7

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