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Chapter ten » Cases when a person can annul a transaction → ← Chapter ten » Laws relating to prepayment (salaf) transactions

Chapter ten » Selling gold and silver for gold and silver

Ruling 2129. If gold is sold for gold or silver is sold for silver, irrespective of whether the gold and silver are minted coins or not, in the event that the weight of one of them is more than the weight of the other, the transaction is unlawful and invalid.

Ruling 2130. If gold is sold for silver or silver is sold for gold in an immediate exchange transaction, the transaction is valid and it is not necessary for their weight to be the same. However, if the transaction has a time period, it is invalid.

Ruling 2131. If gold or silver is sold for gold or silver, the seller and buyer must hand over the commodity and the payment in exchange to each other before they depart from each other. If they do not hand over any amount of the thing that they had agreed on, the transaction is invalid; and if they hand over part of it, the transaction relating to that part is valid.

Ruling 2132. If the seller or the buyer hands over everything that was agreed but the other party hands over only a part of what he agreed and they depart from each other, the transaction is in order with respect to the part that was handed over. However, the party that did not receive the whole amount can annul the transaction.

Ruling 2133. If silver dust from a mine is sold for pure silver, or gold dust from a mine is sold for pure gold, the transaction is invalid unless it is known that, for example, the amount of silver dust is equivalent to the amount of pure silver. However, there is no problem in selling silver dust for gold, or gold dust for silver, as explained previously.
Chapter ten » Cases when a person can annul a transaction → ← Chapter ten » Laws relating to prepayment (salaf) transactions
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