Divisibility of Sale in Installment through Economic Analysis Approach in Iranian Law and Imamiyah Jurisprudence with a Glance at Imam Khomeini’s Thoughts

Abstract

Divisibility or partial rescission of contract is one of the guarantees for execution of contracts widely accepted by majority of legal institutions and international systems in developed countries. This option helps partial execution of contract instead of total revocation or complete enforcement of the contract. Thanks to its special qualities, installment contract has been paid due attention in terms of divisibility to the extent that the United Nations Convention on Contracts for the International Sale of Goods has enacted certain articles about it, emphasizing divisibility of installment contract with approach highlighting its efficiency. Since there is no such solution in Iranian law, particularly in terms of installment contract, in this paper we have tried to first present a precise definition of installment contract on one hand, and present solutions from Imamiyah jurisprudence, with Imam Khomeini’s opinion included, for divisibility of installment contract. On the other hand, we have tried to investigate some criteria of economic analysis approach to prove that accepting divisibility will boost the efficiency of installment contract.

Keywords

• installment contract
• divisibility
• economic analysis
• performance guarantee
• efficiency