This study seeks to clarify the duties of the lessor and lessee and their rights arising under the financing lease, as proved by the rules of Islamic jurisprudence, and the rules of Jordanian financing lease law, in addition to making a detailed comparison that expresses the points of agreement and disparity in accordance with the comparative descriptive methodology. The study found that the legal effects of financing lease in Islamic Jurisprudence do not solely arise out of the leasing contract; they arise out of a number of contracts and obligations that regulate each stage of their stages. Under Jordanian Law, all legal effects of such transaction arise out of the financing lease contract, apart from the lessor’s ownership of the leased property which arises out of the supplying contract. The study, also, found that the rules of Jordanian financing lease law came consistent with Islamic Jurisprudence in relation to obligating the lessee to preserve the leased property and good usage, while they came inconsistent in relation to maintenance and guarantee, they were also consistent in relation to obligating the lessor to enable the lessee from benefiting from the leased property, and the obligation of title transfer, the rules of Jordanian Financing Lease law were also in disagreement with Islamic Jurisprudence in relation to the right of the lessor to sell the leased property, or transfer his relevant rights in it to another lessor.
Adam Nouh Al-Qudah , Mousa Moustafa Al-Qudah
Financing Lease, Hire-purchase, Contemporary Jurisprudential issues