بسم اللہ الرحمن الرحیم
Definition and Arkan of Sale
The lush and fertile tree of Islamic sciences is Tayyaba, in each leaf of which food and healing for human life have been deposited, and this shadow always remains on every member of the Ummah. It is watered by the fountains of the Qur’an and Hadith and protected by consensus and speculation. Even though it has been standing on its ancient foundations for centuries, it gives fruits according to the need of every age. Islam has mentioned some laws of the economy on which Muslims of all ages are guided on the straight path, which are as follows;
Definition and Elements of Sale
(1) Sale, in the terminology of Islamic law, refers to a financial transaction through which ownership of exchanged goods is legally transferred to both parties.
(2) Wealth refers to any valuable item that can be utilized and preserved for future needs. The notion of wealth arises from the recognition of its monetary value by individuals or a group of people, and its validity as wealth is established by being capable of being utilized and permissible for consumption according to Islamic law. (Further details can be found in paragraphs 43-44)
(3) Offer and acceptance are the essential components of a sale, which are expressed through two statements commonly used in various regions and communities.
(4) Offer, and acceptance can be communicated directly (verbally or in writing) or through gestures.
(5) For a sale to be valid, it is necessary that the specified quantity and quality of the commodity, as well as the type, quantity, and conditions of the sale, are in accordance with the acceptance and offer.
(6) If the contracting parties are present in the same gathering, and one party offers through language, gesture, or in writing, the other party will have the right to accept in the same gathering, and after the gathering concludes, they will not have the option of acceptance.
(7) The offering party can retract before the acceptance is complete, but after the acceptance is complete, they no longer have the option of retraction.
(8) If a sale contract (non-cash) is conducted through telephone or wireless communication devices (such as wireless, walkie-talkies, etc.), its ruling is similar to a contract concluded between physically present contracting parties. The communication through phone or wireless will be considered ongoing until the contact is maintained, and the communication will be considered terminated once the contract ends.
(9) If a contract (non-cash) is being concluded between absentees and one of the parties communicates the offer through the mail, telegram, email, fax, or any other non-physical means, this offer will be considered valid until the following conditions and time:
(1) If the recipient explicitly denies acceptance verbally or in writing.
(2) When a specific period is specified in the offer for acceptance, and that period expires. This is commonly referred to as a temporary offer.
(3) The offeror can retract their offer before the acceptance is complete.
(4) The recipient remains silent for a duration that is considered customary for expressing objections and denials based on common practice, instead of providing a written response (acceptance).
(10) If a sale contract is being concluded between two individuals present in a gathering, the contract will be deemed complete only upon the acceptance of the second party. The condition is that the first party (offeror) should also indicate acceptance. This ruling applies to telephone and verbal conversations as well.
(11) In the case of a contract being concluded through written correspondence between two absentees, if the accepting party verbally or in writing acknowledges the acceptance, it becomes obligatory to inform the offering party. However, the contract does not become obligatory until the receipt of a written acceptance (or final notification) by the offering party.
(12) General offer is permissible, which means presenting an offer to all individuals without specifying a particular person. This is subject to the condition that it does not serve as a mere announcement (promotion and advertisement) for purchase but is understood through custom and indication that the intention behind this offer (offeror) is to establish a contractual relationship with anyone accepting it. For example, through a computer (website or online), an offer is made for purchase (acceptance) to anyone.
(13) A sale can be concluded through conduct without explicit offer and acceptance. For example, when a buyer pays the price, and the seller delivers the sold item, without any verbal offer and acceptance. Similarly, if one party verbally offers (or accepts), and the other party performs the payment, the sale is still valid.
(14) Instalment sale is permissible, where the buyer continues to purchase different items from the seller (at intervals), and after a specified period, the account is settled. If the buyer has already paid a portion of the price or makes the payment at the specified time during the settlement, both scenarios have the same ruling. Then, the price of each item was known to the buyer at the time of acquisition, and the sale was completed at that time. If the price was not known, the sale would be concluded at the time of settlement, and the receipt would be considered as evidence of the old transaction time.
(15) Automatic selling (selling through vending machines) is valid. In this case, the seller is not physically present during the purchase; only the buyer inserts the payment into the machine, and the machine dispenses the desired item. In such a situation, the sale is concluded through conduct.