legal and economic analysis of the status of transactions based on information rent

Articles in Press

Document Type : Original Article

Authors

1 Ph.D. student of Private Law. Faculty of Law. University of Science and Culture, Tehran, Iran

2 Associate professor, Faculty of Law, University of Sciences and Culture, Tehran. Iran

3 Assistant professor. Faculty of Law and Political Sciences. University of Tehran. Tehran. Iran.

10.48300/jlr.2024.446525.2601

Abstract

abstract
Contracts based on information rent are contracts in which one of the contracting parties, using his position or connection, becomes aware of important economic information that has not yet been made public and through them concludes transactions for his personal benefit. This information is often available to government officials and their associates. Despite the abundance of such transactions in the society, until now the Iranian legislature has not issued a ruling on their status. While these contracts, in addition to the lack of economic efficiency, cause the waste of the existing resources of the society towards non-productive activities. In the legal literature, this issue has been less discussed. This article tries to investigate the legal status of the mentioned transactions in a descriptive-analytical way. The findings of the research indicate that the owner of rental information is obliged to disclose information to the contract party, and in case of breach of this obligation, the affected party can submit the contract to the teacher, cancel it, or demand the return of the extra income.

Keywords

Journal of Legal Research

Articles in Press, Accepted Manuscript
Available Online from 13 April 2024

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