An income sharing loan agreement is a type of financial deal between two parties, typically a lender and borrower. In this type of loan, the borrower agrees to pay back the loan amount by sharing a percentage of their future income for a specified period of time. Unlike traditional loans where the borrower is required to pay the principal amount along with the interest rate, income sharing...
abril 2022
When it comes to doing business in the Arab world, it’s important to understand the cultural and linguistic nuances that may impact your negotiations. One key term that frequently comes up in contract discussions is the mean of agreement in Arabic. In Arabic, the term for agreement is “mowafakat” (موافقة). This word is derived from the root “wafqa” (وافق), which means to...
Wagering Contract: Explained A wagering contract, also known as a gambling contract, is an agreement between two parties whereby they agree to pay or receive money or other things of value depending on the outcome of a future event. Wagering contracts are generally considered to be illegal, as they involve betting on an uncertain event that is mostly based on chance and not skill. Examples...