Legal and Economic Analysis of the Inscribed Stock Transactions Outside the Stock Exchange Market

Due to the fact that the stock exchange market has gotten complexities and considerations on the ground of its specific characteristics, the legislators usually put forward a distinct mechanism for inscribed stock transactions which emphasizes the necessity of investigation about the legal statute with economic analysis of securities transactions concluded beyond the rules and disciplines. What we seek to substantiate is the necessity of elimination of the private law’s principles regards to freedom of will and also exertion of general principles of law of contract alongside with its economic analysis of inscribed stock transactions. Our main inquiry is whether a  legislator’s withdrawal from exertion of consensual principle to contracts plus exercising the sanction of nullity towards these transactions concluded outside of the stock exchange market is consistent with the fundamentals of Iranian contract law and economic principles or not, Furthermore, should we spread such invalidity to online contracts? The hypothesis is that the invalidity of such contracts is compatible with our legal and economic principles, and in addition, there is no difference between the physical and virtual environment.