The Creed of Compassion-Islamic Teachings & Answering Doctrinal Misconceptions

Issue No.1799- If after the expiry of the stipulated period, the customer cannot pay it, the seller should respite him a period.

Issue No.1800- If a person sells a commodity at a lower cash price, and sells the same commodity by credit at a higher price, for example, if he says, “The price would be such and such in cash and ten percent higher on credit”, and the customer accepts it, there is no harm, and it is not considered as usury.

Issue No.1801- If a person sells a commodity on credit, there is no harm if he reduces his claim later and takes the balance in cash.

Issue No.1802- In-advance payment transaction means that a buyer pays the price of a commodity, and receives it later. Hence, the transaction will be in order, if for example, the buyer says, “I am paying this amount so that I may receive such and such commodity after six months”, and if the seller says, “I have accepted”, it will be sufficient even if no formula is pronounced, and the buyer pays the money with this intention, and the seller takes it.

Issue No.1805- It is not permissible to sell a commodity which is purchased through in-advance payment before the expiry of the stipulated period of delivery. However, there is no harm in selling it after the expiry of the stipulated period, even though it is not delivered to the buyer yet.

Issue No.1807- If the seller gives a commodity other than what the agreement was made on, or delivers a commodity which is of inferior quality to that which was agreed upon, in case the buyer agrees to accept it, there will be no problem in it.

Issue No.1808- If a commodity which was sold by in-advance payment becomes scarce at the time when it should be delivered, and the seller cannot supply it, the buyer may wait until the seller has it prepared, or even cancels the transaction, and refunds it.

Issue No.1810- In transaction of gold for gold and silver for silver, the seller and the buyer should deliver the commodity and its exchange to each other before they separate from each other. However, if they do not do so, the transaction becomes void, whereby if only a part of the stock is delivered, the transaction will be valid only with regard to the part delivered, and the person who has not received the entire stock can cancel the transaction.

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Issue No.1813- In a transaction of “Conditional sale”, for example a house worth £2000.00 is sold for £1000.00, and it is agreed that if the seller returns the money within a stipulated period he can cancel the transaction, the transaction is in order, provided that the buyer and the seller had genuine intention of purchase and sale, and if the seller does not return the money within the stipulated period, the commodity will be the buyer’s.

Issue No.1814- If a person cheats in a transaction by mixing low quality tea with high quality tea, and sells it as a high quality tea, the buyer may terminate the transaction.

Issue No.1815- If a buyer later finds out that the commodity is defective, for example, the fabric or carpet he has bought were worn out or torn; and if the defect existed before the transaction was made but was not aware, he may either terminate the transaction or determine the proportion of the price of the defective commodity, to the price of the complete one and calculate the price, in proportion, to the money he paid and refund the difference. For example, if he has bought a commodity for $100.00 and finds out that it is defective, and the difference between the value of the complete and defective property in the market is ¼, the buyer may receive ¼of the money that he has paid, i.e., $25.00 from the seller. However, as an obligatory precaution, this should be done with the consent of the party concerned. The same ruling applies if there was a defect in the substitute.