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Contract Law

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The Oxford Dictionary of Islam What is This? Covers the religious, political, and social spheres of global Islam in the modern world

    Contract Law

    The classical law of contracts and obligations adopted the principle of freedom of contract and elaborated various requirements for the formation and validity of contracts. For example, according to the Quran, contracts must be entered into and applied in good faith, preferably be in writing, and avoid riba, the definition of which remains a subject of contention to date. The model contract is the contract of sale (bay). Most Muslim countries codified contract law by the late nineteenth or early twentieth century. The Ottoman Mecelle (Arabic majallah), enacted between 1869 and 1886 , became the model for widespread codification of contract law. The Egyptian civil code ( 1948 ), developed under the guidance of Abd al-Razzaq al-Sanhuri (d. 1971 ), became the model for, among others, the Syrian, Kuwaiti, and Libyan commercial codes. States that have not devised a unified civil code (such as Saudi Arabia) interpret contract law in light of classical jurisprudence. In all Muslim jurisdictions, valid contracts are binding.

    See also Commercial Law

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