Lloyd's Maritime and Commercial Law Quarterly
BOOK REVIEW - OMAN COMMERCIAL LAW: ROYAL DECREE 55/90
OMAN COMMERCIAL LAW: Royal Decree 55/90. Oman Chamber of Commerce and Industry, Muscat. (1990, iii and 167 pp.). Paperback.
This unofficial translation of the commercial laws of Oman by the Oman Chamber of Commerce and Industry should prove extremely valuable to all those doing business with the Sultanate. Messrs Trowers and Hamlins, the legal consultants who undertook the translation, have done a thorough job, and the text is admirable in terms of its clarity.
There is little which is exceptional about this commercial law which is in line with international practice. The general provisions start by covering commercial activities and the merchant as might be expected given the significance of the latter throughout the Gulf region. Merchants have to be over 18 years old, and matters relating to unlawful competition and trade names are spelt out.
A large part of the law is concerned with commercial obligations and contracts, including sales, leasing and mortgates. Questions of commercial agencies and brokerage are included, as well as matters involving air carriage and sea freight. The legal obligations of the various parties are set out. The law relating to the issue and use of commercial instruments is also covered, including the position on guarantees, bills of exchange and cheques. The controversial matter of bankruptcy is covered in detail, and it will be interesting to see the effects of this in the coming years, as the whole issue of bankruptcy has been surrounded with much uncertainty in the Gulf in the recent past.
It is clear that the authorities in Oman have gone to considerable lengths to produce a coherent commercial law. This should help remove business uncertainty and promote trading links.
Rodney Wilson
Chairman, Department of Economics, University of Durham.
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