1
Associate professor of private law at university Tehran
2
Master of jurisprudence and economic law
Abstract
The right of option means that each of the parties to the contract or both of them or a third party should have the right to cancel the contract. The jurists believe: every owner of a right can revoke his right. The principle of the necessity of loyalty in contracts requires that the condition of canceling the options as a part of the contract is correct. A consensus has also been claimed in this regard. The verses, hadiths and the generality of keeping the promise also clarify this matter. Moreover, such a condition is based on the rule of action. According to Article 448 of the Civil Code of Iran, the condition of partial or total fall of the options is correct. Although the mentioned article is established in an absolute form, it has some exceptions. In the other word some options cannot be removed. Because they cause the transaction to become unknown. Therefore, it is suggested that Iran's legislator establish more complete regulations regarding the cancellation of options and its exceptions.
