Sharia banking standard law

Adhitya Putra

MPRA Paper from University Library of Munich, Germany

Abstract: Abstract The adoption of a standard agreement from the beginning of its birth has caused controversy both concerning the existence and validity of standard contracts. The Civil Code does not specifically regulate standard agreements. This writing focuses on two issues, namely the validity of the agreement with the standard clause related to sharia principles and the consequences of the law lacking the principle of freedom of contract. This research is normative research that refers to legislation and jurisprudence using legal materials both primary and secondary. The legal material was collected through library studies and then analyzed qualitatively. This study concludes: first, the agreement with conventional standard clauses is no longer questioned whether the agreement is valid or not, but more importantly, the fairness of the contents of the standard clause and in the standard sharia contract tend to result in injustice. Second, normatively there are no legal consequences due to the absence of freedom of contract in the agreement.

Keywords: Keywords: Civil Law; Standard Contracts; Sharia Principles (search for similar items in EconPapers)
JEL-codes: A11 B41 G21 H50 (search for similar items in EconPapers)
Date: 2019-07-02, Revised 2019-07-02
New Economics Papers: this item is included in nep-law
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:94792

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