The Dominant Rules on Sales by Auction Under Iran Law

Sales by auction is a kind of selling, causing the salesman or his legal deputy to supply or sell a property to people during a definite time for a definite price following special desciplines governmentally or normally. Through the joining of the purchasers in the auction session, the trade is done through the satisfaction of the vendor.The prevailing of the auction according to the economic and social situations and based on the commercial transformation description is performed in such a manner that the largest number of people can participate in it nolence and volence. All the lawful acts are based upon the rule of will and determination. As auction is in need of determination, it is excluded from the rule of agreements, for a contract is enough. This kind of selling is a contract and is considered ownership or exchange. Therefore, to be present is one of its rules and specific characteristics as well as decisive and on cash according to certain proceedings.This paper seeks to study and explain auctions based on the rules and norms covering all the shortages and the manner of performance and the terms of auction as compulsory rules.