Privileges and their Rankings in Civil Law Iraq Comparative Study

Abstract

The right of concession is a grant that should be established according to the provision of law.  From this perspective, it differs from mortgage lien and possessory lien as both of these are established according to mutual agreement (contract). It also differs from the right of specification, which is created according to a judge order.                                 

The right of concession, in its essence, is a priority or privilege that is granted in the favour of a creditor over its lenders. The priority is a part of this right, and it is guaranteed according to the provision of the law as an exception from the general rule that all creditors are equal. The law is indirect source for all types of insurances and mortgages; however, in case of right of concession, the law is considered to be a direct source. The significance of the owed money may give the creditor such a priority. A number of considerations may play a major role in establishing such significance; such as the public interest, social interest and the fact that the creditor has transferred the money to debtors' account.                                                                                                           

There are a number of legal implications that will be concluded when considering the concession right a type of jus in rem, these will be discussed and analysed in this paper.