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These products—and Islamic finance in general—are based on Islamic commercial contracts (aqad i.e. a commitment between two parties) and contract law, [ 61 ] with products generally named after contracts (e.g. mudaraba) though they may be combinations of more than one type of contract. [ Note 5 ]
A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors. The owner, often referred to as the 'employer' or the 'client', [ 1 ] has full authority to decide what type of ...
v. t. e. Ijarah, (Arabic: الإجارة, al-Ijārah, "to give something on rent" [1][2] or "providing services and goods temporarily for a wage" [3] (a noun, not a verb)), is a term of fiqh (Islamic jurisprudence) [1] and product in Islamic banking and finance. In traditional fiqh, it means a contract for the hiring of persons or renting ...
The New Engineering Contract (NEC), or NEC Engineering and Construction Contract, is a formalised system created by the UK Institution of Civil Engineers that guides the drafting of documents on civil engineering, construction and maintenance projects for the purpose of obtaining tenders, awarding and administering contracts. [1][2] NEC has ...
Contract law. Offer and acceptance are generally recognized as essential requirements for the formation of a contract (together with other requirements such as consideration and legal capacity). Analysis of their operation is a traditional approach in contract law. This classical approach to contract formation has been modified by developments ...
Construction law is a branch of law that deals with matters relating to building construction, engineering, and related fields. It is in essence an amalgam of contract law, commercial law, planning law, employment law and tort. Construction law covers a wide range of legal issues including contract, negligence, bonds and bonding, guarantees and ...
L.Ed — Lawyers' Edition. L.Ed.2d — Lawyers 2nd Edition. LJ – Postnominals of a Lord or Lady Justice of Appeal (United Kingdom) LJJ – Postnominals of Lords or Ladies Justice of Appeal, plural (United Kingdom) LL.B. – Legum Baccalaureus — Bachelor of Laws. LLC — Limited liability company. LL.D. – Legum Doctor — Doctor of Law.
Addendum. An addendum or appendix, in general, is an addition required to be made to a document by its author subsequent to its printing or publication. It comes from the gerundive addendum, plural addenda, "that which is to be added", from addere[1] (lit. ''give toward'', compare with memorandum, agenda, corrigenda).