Legal jurisprudential analysis of open contracts(With emphasis on Iranian law and common law)

An open contract, the provisions of which are set out in the Uniform Commercial Code, entitled "Completed Terms", is a contractual framework whereby some issues are redone at the time of concluding, and based on the practices in Legal systems are completed and certain contracts can be made. Thus, in terms of the legal nature of the contract, its analysis based on the legal relationship between the pre-contractual agreement or the preliminary agreement appears to be incorrect. These contracts are binding on the parties and can be invoked against third persons. This essay argues that open contracts are governed by a number of consensual-based rules and therefore, are acceptable in the Iranian legal system.