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Ruling 2091

There are six conditions that must be fulfilled by the seller and the buyer [in order for the transaction to be valid]:
 

  1. they must be of the age of legal responsibility (bāligh);
  2. they must be sane (ʿāqil);
  3. they must not be foolish with finances (safīh); i.e. they must not spend their wealth in futile ways;
  4. they must have an intention to buy and sell. Therefore, if, for example, someone jokingly says, ‘I sell my property’, the transaction is void;
  5. they must not be compelled by anyone [to carry out the transaction];
  6. they must, respectively, be the owners of the commodity being sold and the payment made in exchange.

The rulings pertaining to these conditions will be explained below.