Mortgage Commercial Documents in IranianLaw

The present research studies the nature of commercial papers, nature ofproperty, and the concept of pledge and securities in connection withcommercial papers/trades bonds. Pledge of commercial papers has beenaccepted in most countries as a principal; however, the surface of Iranianlaws is in favor of non-acceptance of such pledges. In view of theimportance of the subject and increasing usage of commercial papers ininternal, domestic and foreign business area, this paper tries to help in liftingthe main obstacles in accepting the pledge of commercial papers byattributing to some of the laws, by-laws and presenting a new definition ofproperty.