Document Type : Original Article
Authors
1 Master’s in Economic Law, Faculty of Law, Shahid Beheshti University, Tehran, Iran
2 Assistant Professor, Public and Economic Department, Faculty of Law, Shahid Beheshti University, Tehran, Iran
3 Associate Professor, Private and Islamic Department, Faculty of Law, Shahid Beheshti University, Tehran, Iran
Abstract
Supporting collective will can significantly contribute to a country's economic growth and development. Although legislators have acknowledged the importance of collective will, the formation of collective will within existing examples under Iranian law faces numerous challenges due to various transactional costs. These costs prevent the current framework for forming collective will from reaching an efficient state. Consequently, this inefficiency has led to several negative consequences, including "inefficient allocation of resources," "a reduction in the frequency of collective will formation," "delays in the formation of collective will," "avoidance of legal mechanisms for collective will formation," "non-compliance with legal formalities in collective will processes," "opportunism," and an "increase in disputes and conflicts."
In this context, this article initially defined collective will and presented its key examples in Iranian law. Following this, it briefly explained the concept of transactional costs. Subsequently, various transactional costs involved in forming collective will were examined, aiming to identify issues and eventually explore solutions. It is hoped that researchers will strive to support collective will by identifying mechanisms to reduce transactional costs, thereby contributing to the country’s economic growth and development.
Keywords
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