One of the important issues of contemporary law is the transition of the product responsibility law, since the law of product liability have, over time, evolved in the light of its goals. Therefore, when it was intended to compensate the losses caused by defective goods and consumer protection, contract law was recognized as appropriate. Over time, the inefficiency of contract law in consumer protection was clarified, and liability based on defect or strict liability with some defensive rights for the manufacturer was proposed. But these rules could only cover consumer compensation. Also, developments in the field of power in public law and the impact of economic power on the authority of national sovereignty led to the aim of protecting national interests in the subject of production. Thus, the legal rules of product liability have been developed in the structure of market law to cover all legal goals. Key words: contract law, strict liability, manufacturer's right to defense, market law

Different aspects of competition in stock exchanges have been discussed in the literature from either a positive or normative perspective but this paper seeks to come up with an approach encompassing both positive and normative dimensions of competition in various aspects of stock exchanges’ activities. As far as the positive nature of the securities market and industry is concerned, conflicting trends are emerging. The liberalization of securities markets and the disappearance of technical barriers have dismantled the monopoly of national stock exchanges but led to more consolidation. However, we are also witnessing a destabilizing and fragmenting effect of competition on these markets. Following an analysis of the importance of recognition of the normative/positive dichotomy in approaching competition in financial services, we discuss the centrality of information disclosure in creating competitive and stable financial markets. Disclosure of information, therefore, reinforces both competitive and prudential objectives alike. In further attempt, we discuss the tension between the principles of competition and prudence alongside the conflict between competition objectives and advantages in economies of scope and scale. While arguments in weighing the competition against economies of scope and scale are evenly balanced, the unique characteristics of such markets do not allow the absolute application of competition principles when it comes to prudential concerns.

In the legal system of Iran, the the investment bank is one of the financial institutions within the meaning of Article 21.1 of the Market Law, which provides a variety of financial services in the capital market. It is the most complete form of financial institution, that is, it is able to provide a total of services. Provide other financial institutions According to Article 28, the law of its activities is under the supervision of the organization, and public associations, managers, inspector-auditor and specialized committees of the company are required to observe and enforce the laws and regulations. After obtaining a license to establish and issue a license, the investment bank starts its legal life according to the laws and regulations and is governed by the Statute of the Securities and Exchange Organization, which is managed by the company as a joint stock company or a public company. Therefore, the system A review of business-to-business inspections was carried out in accordance with the general rules of commercial companies contained in the Commercial Code, the amending bill and other laws and regulations related to capital market law.

One of the most important topics in the economic analysis of law is civil liability and the basis of civil liability is the most fundamental issue in analyzing the content of civil liability rules and the way that the legal system views these rules. There are two types of approaches to economic analysis of Basis of Civil Liability; economic analysis of traditional Foundations and tendency to new basis. Conventional foundations are fault-based liability theory and fault-free liability theory that in the legal literature, these are called fault theory and risk theory. In the general rules among traditional theories, by changing their lawsuits and their level of caution, either fault or strict liability can be effective. Market rights have generally accepted strict liability and the theory of market security. In the market rights, new foundations have been introduced because of inefficiencies of traditional foundations And because of their social capability, they are becoming more prominent in the legal literature of the world. The consequentialist basis are deterrence and distributive justice. This research is an analytical-descriptive study using library data in two topics.

The provision of appropriate legal instruments for precise oversight of exchanges process and resolution of possible problems is one of the requirements for establishment of efficient water market. The dominant approach of Iran’s water legal system is the incentive of water market formation. However, there are some legal documents such as Matters 27 and 28 of the Fair Water Distribution Law that limit the water exchange process. Although the guidelines for the implementation of these matters have been amended by the Ministry of Energy but there are still the ambiguities in the water market conditions. In this paper, along with the identification the incentive and restrictive laws of the water market, some of the legal challenges of water exchange are presented through the analysis of laws related to the Iran’s water legal system. Then, by examining the status of exchanges within the Borkhar pilot plain, the challenges and considerations for the success of this market are identified. Based on field-level visits in the study area inter-sectional exchanges are of interest, generally. So that, the agriculture-related industries and building industries have a willingness to purchase water from agricultural wells, potentially and actually. The results show that the establishment of an efficient water market needs the consideration of issues such as issuance of a separate document and independent of the land for withdrawals, modification and adjustment of exploitation licenses, equipping wells to smart meters and establishments of groundwater users’ formations by strengthening incentive laws and amending barrier laws.

The purpose of this paper is to investigate the effect of credit and non-liquidity andmarket risks on the financial efficiency in the 102 Tehran Stock Exchange companiesduring 2011-2016. We use Amihud ratio to calculate the non-liquidity risk, the Creditrating was used with the Topsis model and CVaR was used for market risk. In order to weuse the return-on-equity (book value) ratio, the return-on-equity (market value) ratio andmarket value added, while analyzing the impact of financial risks on them with the GMMgeneralized regression model, the ability to explain each one and determine which is abetter benchmark for efficiency explanation. According to the results, there is nomeaningful relationship between all three risks with the return-on-equity (book value)ratio, while the effect of these risks with the return-on-equity (market value) and marketvalue added ratio are significant, which is the ability to explain the return-on-equity(market value) More than market value added

The most fundamental issues of market is competition, because the market is without competition Does not exist and consumer rights, Investor security and transition and national development not be achieved. Thus the functional guarantee competition in the supply and demand, in the horizontal and vertical markets, not be a problem. Under the Regulation by government to intervene in the market occur that is said "Market Order". Therefore, for organizing the market situation, government Should be attended to regulation for competition in the market and the fight against monopolistic behavior. In this paper we two competition law of Iran (2007) and French competition law (1986) and to compare these two objectives through the operation of commercial law, especially imitation Iran from France in commerce law to review the shortcomings of competition law in Iran and solutions in France.

During the currency crises of the 2010s (Jalali 1390s), one of the government’s effort to reduce the escalating rate of exchange rate was to set a fixed price for the currency. To this end, the government had to make supportive decisions on this rate such as export bans and commanding sale of commodities in the stock exchange. Reviewing the legal and jurisprudential bases of such decisions requires that the government civil liability against the exporting companies shall be considered both in “faults due to approval of regulations against rules” and “civil liability - regardless of fault - due to the principle of equity and legitimate expectations rooted in economic security”. The present research is a library research, which analyzes the above case based on a descriptive-analytical method. It is concluded that firstly Imamieh Jurisprudence has refrained from defining the commanding price in economic tough situations such as shortage of commodities due to the hoarding by the Islamic government in spite of preventing the owners of the same. Secondly, from the legal point of view, preventing exportation of commodities is against Article 23 of the perpetual orders of the State Development Plan ratified in 1395 (2016) as well as Article 18 of the Law on Developing the New Instruments and Financial Institutions in line with Facilitating Implementation of General Policies of Principle 44 of the Constitution. The said principle makes the government bound to exclude the commodities registered in the stock exchange from the pricing system.