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Chapter ten » Selling gold and silver for gold and silver → ← Chapter ten » Prepayment (salaf) transaction and its conditions

Chapter ten » Laws relating to prepayment (salaf) transactions

Ruling 2123. A person cannot sell a commodity that has been acquired by prepayment to a person other than its seller before the end of the stipulated period. However, there is no problem in selling it after the period has expired even if he has not yet taken possession of it. But selling a commodity that is sold by weight or measure – apart from fruit – to a person other than its seller before taking possession of it is not permitted unless it is sold for a price that is equal to or less than the price that was paid for it.

Ruling 2124. In a prepayment transaction, if the seller delivers the agreed commodity on its due date, the buyer must accept it if it is in the same condition that was stipulated. And if the commodity is in a better condition, again he must accept it unless there was a stipulation that allowed for a rejection of a better condition.

Ruling 2125. If the commodity delivered by the seller is of a lower quality than what was agreed, the buyer can choose not to accept it.

Ruling 2126. If the seller delivers a commodity that is different from the commodity that was agreed, there is no problem as long as the buyer consents.

Ruling 2127. If a seller who has sold a commodity by prepayment is unable to obtain it at the time when he must hand it over, the buyer can either wait until he obtains it, or he can annul the transaction and take back what he had given in exchange, or he can take something else instead [of what he had given in exchange]. And based on obligatory precaution, he cannot sell it to the seller at a higher price.

Ruling 2128. If a person sells a commodity and agrees to hand it over after a period of time and to take the payment after a period of time as well, the transaction is invalid.
Chapter ten » Selling gold and silver for gold and silver → ← Chapter ten » Prepayment (salaf) transaction and its conditions
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