Faculty of Law – University of Kerbala has discussed the Ph.D. dissertation which is entitled (principle of speed in commercial law: a comparative study). It is submitted by Muhammad Majeed Karim Al-Ibrahimi.
The dissertation aims at showing that position of Iraqi legislator contains a paradox, as he does not mention speed in Article Three of Trade Law, which is devoted to stating the foundations on which trade is based, at a time when commercial jurisprudence almost unanimously agrees that the reason for the existence of trade law lies in nature of commercial business, which is characterized by speed and succession that makes civil law inappropriate for its ruling. On the other hand, the legislator stresses the need to follow the speed, rather he uses formulations indicating his keenness to implement the work at a great speed, such as his saying “as quickly as possible” and his saying “immediately”.
The discussion shows that the applications that are affected by principle of speed are many and in various aspects of commercial law. We find that it has an impact on legal actions, so they are taking place faster due to penetration of speed into the corners of those actions, such as the corners of satisfaction and the place. Trading is also affected by principle of speed, and found systems and rules to achieve speed in paper trading, commercial and financial, as well as the implementation of commercial commitments that must take into account the speed in their implementation,
