The legal and jurisprudential Analysis of independent value of Securities«

Without any doubt the value of the securities in the economic analyses isdepending on the origin of assets and they don’t have value themselves. In respect of the rule of paper document in the nature of securities, some of Iranian lawyer argues that the right to which the paper document relates materializes in the document and can therefore be transferred according to the rules governing tangibles. If the paper document is transferred, the buyer not only acquires title to the paper, but also becomes entitled to the right to which the paper relates. This view refers to the fact that the document relating to the security embodies a valuable right, but this view,based on the principles of Islamic law, in this system and therefor in the Iran legal system seems not correct.