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10. Buying and Selling

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  • Ruling 2119

    With regard to a person who has sold a commodity on credit and has specified a time for receiving the payment, if he, for example, reduces the amount he is owed after half of the deferment period has …

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  • Ruling 2120

    A prepayment transaction is when a person sells a commodity that has been defined in general terms for an amount that is paid immediately, and the seller hands over the commodity after some time. Therefore, if the buyer …

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  • Ruling 2121

    If a person sells by way of a prepayment transaction a commodity made of gold or silver and accepts gold or silver money in exchange, the transaction is invalid. However, if a person sells a commodity or currency …

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  • Ruling 2122

    A prepayment transaction must fulfil the following seven conditions [for it to be valid]:the particulars which determine differences in the commodity’s price must be specified. A lot of precision is not necessary; it is sufficient if people would …

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  • 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 …

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  • 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. If the commodity is in a better condition, …

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  • 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.

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  • 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.

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  • 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 wait until he obtains it, or he can annul the transaction …

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  • Ruling 2128

    If a person sells a commodity and agrees to hand it over after some time and take the payment after some time, the transaction is invalid.

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