LEGAL DESCRIPTION OF THE FACTORING CONTRACT
Keywords:
Factoring, Transfer of right, Agreement solutionsAbstract
In our title article, we set out the legal description of the factoring contract and examined the main theories describing this contract; the theory of transfer of rights and the theory of contractual subrogation, in order to find out what similarities and differences exist between them and the factoring contract. The position of some legislations was clarified to show the areas of integration or deficiencies that affect the description of this contract, and we opted for the descriptive approach - analytical - comparative, through which it became clear that the factoring contract is undefined in the Iraqi legal system, there is no specific legislation, that regulates its provisions and determines its essential elements and legal description as well as the reluctance of Iraqi banks for the practical and actual practice of the factoring contract, which calls for drawing attention to this contract in order to keep pace with economic and legal developments
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