based on the current approach, to ascertain and enforce the sanctions in law is one of the exclusive functions of governments. but the deeper examination reveals that many transactors prefer non-legal sanctions. at first glance, this self-enforcement mechanism seems to be contrary to legal fundamentals. therefore, these sanctions are contested in law. this article is an attempt to consider a ne...

collateralized mortgage obligations are derivatives securities based on mortgage loans which issued in different maturities, interest rates and credit ratings. in iran attention to decision authorities for the first time allowed iran melli bank and maskan bank to issue this kind of securities. one of the main questions in issuing this kind of securities is maximizing the issuer profit by choosi...

making a negotiable instrument on behalf is one of the most important issues in negotiable instruments law. under general rules, the principle has the obligations arising from making negotiable instrument on behalf and agent is not in charge. if the maker wasn’t an agent or he violated the representation area, his act wouldn’t be valid. now the question is if the agent doesn’t manifest his posi...

A condensed specification of a multi-level marketing enterprise in the Z specification language is presented and a number of proof obligations that result from operations on the state is stated. The feasibility of using certain reasoning heuristics for discharging proof obligations emerging from the specification is investigated and we show how two important proof obligations arising from the s...