Legal-Juridical Correction and Justification of Authentication of Commercial Documents

Commercial documents are instrumental properties which transferring, taking possession or delivery of them is the same as transferring, taking possession, and delivery of the value stipulated in them. As a matter of fact, such documents are "modern capitals" of the society with various functions. One of their functions within the commercial convention is "commercial authentication". According to laws and rules of many countries, commercial authentication is made through "endorsement giving the endorsee a right of a pledge". Since the Trade Law of Iran keeps silent about this function, it is analyzed and justified through the contract of pledge. Because of non-conformance with the conditions of pledge in the Civil Law, this analysis faces some problems. Many attempts have been made by professors and researchers in the field of jurisprudence and Law to adopt the point and provide relatively proper solutions each of which has some advantages while it is not free of scientific and practical difficulties.The present writing is an attempt made to juridically and legally justify commercial authentication as a new-emerged contract which is covered by the noble verse "Fulfill your indentures" so that the way may be paved to include it in the Act of Trade which is in the process of approving by Islamic Majlis (Article 349) or to add an addendum to the Article 247 of the present Trade Law, which is a step taken to eliminate this problem from commercial and banking fields.