The Status of Loss of Profit in International Trade Law and Selected Countries

Today the discussion over the responsibility of individuals toward each other is followed by breach of contractual obligations and material and moral damages, which has led to the formation of a theory of full compensation against losses of injured party. This theory is also recognized in numerous international trade  laws such as the Convention on the International Sale of Goods and the Principles of International Commercial Contracts and the domestic law of some countries has been recognized with a number of conditions and thus, loss of profit can be compensated as material damages. There is a great deal of controversy about the acceptability of this theory and demanding loss of profit in Iranian law. The fact is that certain loss of profit can be remedied in foreign and domestic laws, which is evident in judgmental procedures and international arbitrations. Such damages in the legal system of Iran also have legal and judicial bases which can be fully compensated and the injured party can be protected.