The Nature, Terms and Legal Effects of Presale or Pre-Construction Contracts of Building (Apartment)

Seyed Jafar Tabatabai

Abstract


Modern living in present-day in the territory of contracts, as in many other fields, has led to numerous and complex phenomena. One of its manifestations is the construction (constructing) phenomenon and its pre-sale contracts. Sale of the building and apartment units before their construct is a common problem in today's society that it depends on pre-sales or pre-construction contracts. The long duration of construction projects and fluctuations in materials prices, especially considering the today’s economic situation is one of the important reason for the development of pre-sales contracts in Iran. This study has been carried as a descriptive analytical one to examine and identify the nature, conditions (terms) and legal effects of pre-sold or pre-construction contracts and among the results of this study are that; the presale contract of construction (building) despite the fact that sales did not exist at the time of conclusion of the contract, can be considered as the same sale. The producing of ordered goods is the responsibility of artificial maker (manufacturer) and the made should be determined and death and time to deliver the goods must be determined. The determination of price also as determination of made is very important and must be delivered to the makers according to contract.

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DOI: http://dx.doi.org/10.5539/jpl.v10n1p228

Copyright (c) 2016 Seyed Jafar Tabatabai

License URL: http://creativecommons.org/licenses/by/4.0

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