Exchange Balance Rules in Iraqi Trade Law No. 30 of 1984

Abstract

Is that the requirements of speed in commercial work raised fears of exposing private interests to danger, so the importance of having controls also emerged, which take into account at the same time the necessity of speed and preserving the interests of others. From here came the idea of ​​balance between the parties to a commercial transaction, and this applies to the morphological rules for commercial papers, or what is expressed as the exchange law, which regulates the provisions of commercial papers, as the Iraqi legislator made special rules regulating the provisions of commercial papers and everything related to them in Articles 39-184, and these rules are governed, in addition to the principles referred to above, by other principles, including formality, independence of signatures, strictness on the debtor to fulfill the amount of the commercial paper, and the principle of self-sufficiency. These last principles, in their entirety, are considered a departure from the general rules in civil law. The importance of the research lies in clarifying the legislative rules that enable knowing the rules of balance between the parties to the morphological relationship in the face of the strictness of the rules against some of the parties to this relationship, as we found it necessary to clarify these rules and what is decided in the interest of any party of the morphological obligation and at any stage of the process. Commitment stages can be applied. Our research also contributed to clarifying the concept and specificity of morphological rules, the legal basis of the morphological obligation, and what are the most important characteristics that characterize this obligation, and finally explaining the morphological rules established for the benefit of each party to the morphological obligation.