The dominance entry of the principles of Gharar in electronic contracts

Contracts feature in all areas of our daily lives. For example, without much thought, we become party to a variety of contracts when we travel by bus or rail, purchase goods, accept services, and carry out our duties in the workplace. Contracts are so prevalent that ordinary men or women in the stre...

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Main Author:	Razali, Siti Salwani
Format:	Article
Language:	English
Published:	Brill Academic Publisher 2009
Subjects:	HG4001 Financial management. Business finance. Corporation finance. HJ9701 Public accounting
Online Access:	http://irep.iium.edu.my/11845/ http://irep.iium.edu.my/11845/ http://irep.iium.edu.my/11845/1/ALQ_23salwani.pdf

id	iium-11845
recordtype	eprints
spelling	iium-118452012-05-06T05:10:01Z http://irep.iium.edu.my/11845/ The dominance entry of the principles of Gharar in electronic contracts Razali, Siti Salwani HG4001 Financial management. Business finance. Corporation finance. HJ9701 Public accounting Contracts feature in all areas of our daily lives. For example, without much thought, we become party to a variety of contracts when we travel by bus or rail, purchase goods, accept services, and carry out our duties in the workplace. Contracts are so prevalent that ordinary men or women in the street do not realize the legal complexities of the transactions into which they enter. The use of Internet as a medium of communication has widened the scope for contract formation. Sales and purchase activities are conducted online using contracts either drawn up through the Internet itself or outside cyberspace. Several areas of uncertainty will have a significant impact on electronic contracting under Islamic Shari'ah law. This is a fundamental issue, especially with regard to online contracts for which the contracting parties are not physically present. In fact, if certain fundamental issues regarding online contracts are not resolved, then the dominance entry of the principles of ghārār (uncertainty) will apply, making such contracts unfeasible under Islamic Shari'ah law. Therefore, this paper aims to review what is actually meant by ghārār and how it affects the enforceability of electronic contracts under Shari'ah law. It also suggests how ghārār can be reduced or even eliminated to achieve an acceptable degree of certainty, thus enabling the practice of online contracts, particularly according to the Shari'ah. Brill Academic Publisher 2009 Article PeerReviewed application/pdf en http://irep.iium.edu.my/11845/1/ALQ_23salwani.pdf Razali, Siti Salwani (2009) The dominance entry of the principles of Gharar in electronic contracts. Arab Law Quarterly, 23 (2). pp. 207-216. ISSN 0268-0556(P), 1573-0255(O) 10.1163/157302509X415648
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG4001 Financial management. Business finance. Corporation finance. HJ9701 Public accounting
spellingShingle	HG4001 Financial management. Business finance. Corporation finance. HJ9701 Public accounting Razali, Siti Salwani The dominance entry of the principles of Gharar in electronic contracts
description	Contracts feature in all areas of our daily lives. For example, without much thought, we become party to a variety of contracts when we travel by bus or rail, purchase goods, accept services, and carry out our duties in the workplace. Contracts are so prevalent that ordinary men or women in the street do not realize the legal complexities of the transactions into which they enter. The use of Internet as a medium of communication has widened the scope for contract formation. Sales and purchase activities are conducted online using contracts either drawn up through the Internet itself or outside cyberspace. Several areas of uncertainty will have a significant impact on electronic contracting under Islamic Shari'ah law. This is a fundamental issue, especially with regard to online contracts for which the contracting parties are not physically present. In fact, if certain fundamental issues regarding online contracts are not resolved, then the dominance entry of the principles of ghārār (uncertainty) will apply, making such contracts unfeasible under Islamic Shari'ah law. Therefore, this paper aims to review what is actually meant by ghārār and how it affects the enforceability of electronic contracts under Shari'ah law. It also suggests how ghārār can be reduced or even eliminated to achieve an acceptable degree of certainty, thus enabling the practice of online contracts, particularly according to the Shari'ah.
format	Article
author	Razali, Siti Salwani
author_facet	Razali, Siti Salwani
author_sort	Razali, Siti Salwani
title	The dominance entry of the principles of Gharar in electronic contracts
title_short	The dominance entry of the principles of Gharar in electronic contracts
title_full	The dominance entry of the principles of Gharar in electronic contracts
title_fullStr	The dominance entry of the principles of Gharar in electronic contracts
title_full_unstemmed	The dominance entry of the principles of Gharar in electronic contracts
title_sort	dominance entry of the principles of gharar in electronic contracts
publisher	Brill Academic Publisher
publishDate	2009
url	http://irep.iium.edu.my/11845/ http://irep.iium.edu.my/11845/ http://irep.iium.edu.my/11845/1/ALQ_23salwani.pdf
first_indexed	2023-09-18T20:21:06Z
last_indexed	2023-09-18T20:21:06Z
_version_	1777408112475504640

The dominance entry of the principles of Gharar in electronic contracts

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