Statement on the Price of Sale and the Conditions Related to its Validity3 min read

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Statement on the Price of Sale and the Conditions Related to its Validity

Statement on the Price of Sale and the Conditions Related to its Validity

(23) The first condition for a valid sale is that both parties must possess the item being sold. If the item does not exist, the sale will not be valid, and it will be considered void.

Item: Anything that holds material value and has a legitimate benefit between people.

(48) It is a condition for the validity of a sale that the seller is capable of delivering the item. Therefore, if the seller is unable to deliver the item at the time of the contract, the sale will be considered void. For example, selling a lost animal that has an unknown existence.

(49) It is a condition for the validity of a sale that both the item and the price are known. If there is any ignorance regarding the item, whether in terms of its type or quantity, the sale will be invalid unless this ignorance is deliberate and mutually accepted.

If the units of sale are different, it does not invalidate the sale. For example, selling ten kilograms of wheat from a pile of wheat. In this case, the buyer has the right to determine the ten kilograms from the pile.

(53) It is a condition for the validity of a sale that the seller owns the item, and the buyer has the actual or legal possession of the price. Therefore, if someone purchases something and sells it to someone else before taking possession of it, this sale will be invalid. Actual possession means having physical control over the item, and legal possession means having the ability to dispose of it. In all sales, except for cash sales, possession is necessary.

(55) If the payment for the sale is in cash, it is not a condition for the validity of the sale that the price be in the buyer’s ownership at the time of the contract. This is because the price becomes the buyer’s obligation. Therefore, it is permissible for the buyer to become the owner at the time of payment, whether it is a cash sale or a deferred payment sale. However, ignorance of the price in a contract is considered a defect in the sale. If both parties agree to determine the price according to a specific criterion, such as market value, and then there is ignorance of its recognition at the time of payment, the contract will not be defective.

(20) Mineral or paper prices cannot be determined in valid contracts. Therefore, even if the buyer indicates a specific price at the time of the contract, it is still permissible for someone else to pay a different price. Similarly, in void contracts, indicating a price will not make it determinable. However, in trust transactions and invalid contracts, indicating a price will make them determinable.

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Talha Siddiq

Talha Siddiq

I am an Islamic Scholar. I have expertise in Ahadith, Fiqh, Logics, and the Arabic language. I have a specialty in Islamic finance and Islamic study. To get started with me, Book Now one-to-one Session, or let us know what do you like in the contact form.

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