Morteza Shahbazi Nia; Mohammad Isaei Tafreshi; Kourosh Kaviani; Esmaeil Faraji
Abstract
Sometimes people establish Commercial companies to pursue their fraudulent purposes under the veil of legal personality of the company. The law of Iran has not predicted a solution for this legal dilemma. In other legal systems such as English legal system, the courts confront these kinds of fraudulent ...
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Sometimes people establish Commercial companies to pursue their fraudulent purposes under the veil of legal personality of the company. The law of Iran has not predicted a solution for this legal dilemma. In other legal systems such as English legal system, the courts confront these kinds of fraudulent acts under the famous doctrine of “Piercing the Corporate Veil” by authorizing the creditor of the company which assets are not sufficient to compensate the credit, to withdraw the limited liability rule and recover its respective claims from the assets and property of the fraudulent partner)s). In this research, we try to investigate and recognize this concept in the Law of Iran. The result of this research shows that within the English legal system, fraudulous use of the commercial company form will undoubtedly entail to the withdrawal of the corporate veil and unlimited liability of the fraudulent partner(s); however, some matters such as the legal sanctions, and also the concept of unfair actions, are still under dispute. As a result of this research it is also indicated that in our domestic legal system relying upon the doctrine of “fraud” it is possible to impede the validity of fraudulent acts of partner(s) and exceptionally rule on the unlimited liability of these people towards the company creditors.
Morteza Shahbazinia; Fatemeh Alholui Zare
Abstract
Letter of credit(LC')due to its special characteristics, is one of the most prevalent methods for payment in international transactions. By establishing the Uniform Customs and Practice for Documentary Credits (since) 1933, in order to unification of the rules governing letters of credit, International ...
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Letter of credit(LC')due to its special characteristics, is one of the most prevalent methods for payment in international transactions. By establishing the Uniform Customs and Practice for Documentary Credits (since) 1933, in order to unification of the rules governing letters of credit, International Chamber of Commerce) ICC) has tried to clarify this method of payment. ICC has standardized issuing of the documents related to letter of credit, so as to declining problems which are come across with engaged parties due to this method of payment. However, despite these efforts, still numerous ambiguities surround this method of payment, especially banks are challenging with several problems in connection with the documents presented by the beneficiaries. This shows that prevailing rules on the principle of strict compliance of documents are not clear enough. In order to enhance the letters of credit’s efficiency, this paper will try to review the contrast interpretations regarding the concept of the principle and provide solutions for the above problems. This study includes all engaged parties in )LC)’s operations and specially will examine Doctrine of Strict Compliance in Commercial Invoices.
