Abstract

Proprietary value is one of the conditions related to the considerations (price and sold object) in a sale contract. Property has been defined by legal experts in several ways including the idea that property should have the capability to be changed to money, to have value, and to be demanded by human will. According to Article 348 of Civil Code of the Islamic Republic of Iran, the sale of something that is not (describable as) property or which can bring no reasonable profit is null. In this regard, time and place circumstances play an important role in the determination of proprietary value. Famous legal experts and jurists have proposed different ideas about proprietary value so that the criterion for identification of proprietary value of a good has been regarded either religious or customary. This article tries to introduce proprietary value, time and place circumstances, and different ideas about proprietary value as a condition for contracts.

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