Journal of Islamic Law Research

Journal of Islamic Law Research

An examination of the factors constituting uncertainty (gharar) in insurance contracts

Type : Research Article

Author
Abstract
One of the conditions of validity of a contract is the lack of gharar. Gharar is not permissible for one or both sides; otherwise, the transaction will be canceled because religious teachings prohibit us from gharar. Insurance is a legal, independent, and binding contract in which the possibility of gharar exists because it may not be free from harm to the parties of the contract. In this paper, we consider whether there is the possibility of gharar in a contract of insurance or not and what the situations of gharar are.
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  • Received 07 December 2014
  • Revise 02 February 2015
  • Accepted 21 February 2015