Uberrimae Fidei Contract Definition.

A contract of uberrimae fidei is a contract in which one party (the “promisor”) agrees to act in utmost good faith towards the other party (the “promisee”). This type of contract is also known as a “fiduciary contract”. In a contract of uberrimae fidei, the promisor is obliged to disclose all material information to the … Read more

What Is Takaful?

Takaful is an Islamic insurance system where members contribute money into a pooling system in order to provide protection against loss or damage. The key difference between takaful and conventional insurance is that takaful is based on the principles of mutuality and cooperation, whereas conventional insurance is based on the principles of individualism and profit-seeking. … Read more

What Is a Deed?

A deed is a legal document that is used to transfer ownership of real property from one person to another. The deed must be signed by the person transferring the property (the grantor) and by the person receiving the property (the grantee). The deed must also be witnessed by at least two people and it … Read more