Presentation on theme: "The Essentials of Sale 1.تراضي - MUTUAL CONSENT A sale will be invalid without mutual consent. Example: بيع المكره The sale of a person who is forced."— Presentation transcript:
The Essentials of Sale 1.تراضي - MUTUAL CONSENT A sale will be invalid without mutual consent. Example: بيع المكره The sale of a person who is forced to sell.
The Essentials of Sale 2. وجود - EXISTENCE OF SUBJECT OF SALE The subject of sale must be existent at the time the sale is concluded. Example: Selling an unborn calf or the advance selling of crops.
The Essentials of Sale 3. ملكية - OWNERSHIP The subject of sale must be in the ownership of the seller at the time of sale. Example: Ismail Builder wishes to purchase 100 pockets of cement from Bilaals Hardware. Bilaal did not have cement when Ismail contacted him. However, his brother, Yusufs General Dealer, who is across the road, has the cement. Bilaal sells the cement to Ismail and thereafter gets the cement from Yusuf and delivers it to Ismail. This sale is invalid as Bilaal did not have ownership of the cement when he sold it.
The Essentials of Sale Two Exceptions: Salam (forward sale) Istisnaa (ordering the manufacture of an item)
The Essentials of Sale 4. قبض - POSSESSION The subject of sale must be in the possession of the seller at the time of sale. Example: Moosas Tile-orama bought a consignment of tiles from China. The sale was concluded and Moosa paid for the goods as well. Whilst the consignment is still en-route to South Africa, Moosa begins selling the tiles (with samples). This sale is invalid. Although Moosa owns the shipment, however he has not yet taken possession of it.
The Essentials of Sale Elucidation: Islamically, it is impermissible to sell something until one has assumed the risk of that commodity. Once possession of an item is taken, risk passes from seller to buyer. It will now be permissible to sell it.
The Essentials of Sale SOLUTIONS: 1. Take possession of the goods or appoint an agent to do so before selling. 2. Act as an agent in selling the goods and request a commission from the supplier.
The Essentials of Sale 5. INSTANT AND DEFINITE The sale must be instant. It cannot be attributed to a future date or a future event or contingent. Example: A sale is concluded with the following condition, If you are successful in receiving a loan from ABC, then this car is sold to you. Such a sale is invalid.
The Essentials of Sale 6. خطر - UNCERTAINTY Any transaction wherein there is uncertainty about any of the exchanges is not permitted in Shareeah. Gambling Competitions where a fee is charged Insurance
جزاكم الله خيراً والسلام عليكم ورحمة الله وبركاته