A CRITICAL STUDY OF THE CONCEPT AND EFFECTS OF JOINT OBLIGATION IN CASE OF PLURALITY OF CREDITORS CREANCE CONJOINTE

Although frequently obligations involve only one creditor, they may also be established in favor of a number of creditors. In this case the main question is whether the obligation is divided into several parts as number of creditors or there is only one obligation which have several creditors and they are the joint owners of the obligation. Islamic jurisconconsultes believe that the obligation is the joint property of the creditors provided that it arises from a common source: If, for example, two persons jointly own an land, transfer it by a contract of sale, the price of the sale would be their joint property by application of the doctrine of "Real Subrogation". Thus, if one creditor receives part payment from the debtor, s/he has to share it with his/her co-creditor.