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Sunday, 22 December 2024 08:15

Sunnats and Aadaab of Business and Dealings – Part Five

9. The price of the sale item must be mutually agreed upon at the time of the sale. [1]

10. When the sale is a credit sale, it is compulsory upon both parties to mutually agree upon the date of payment e.g. 30 days from the day of the sale. [2] If the date of payment is left unclear (e.g. “I will pay you when the haajis return from hajj”) or unfixed (e.g. “When I am able, I will pay you”), this will not be permissible and will render the sale a faasid (corrupt) sale. The reason for this type of sale being impermissible is that generally, this ambiguous and uncertain arrangement leads to quarrels and disputes. [3]

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