Submitted by: Submitted by syahmishin
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Words: 277
Pages: 2
Category: Business and Industry
Date Submitted: 03/03/2015 10:48 PM
Pillars of a Sale Contract
Hanafis
* Ijaab – positive proposal
* Qabool – acceptance
Other Jurists
* Parties – buyers & sellers
* Object/Subject – what commodity/service
* Price – at what consideration
* Ijaab & qabool
Conditions of a Sale Contract
1. The Contractor
Sane and able to run his own affairs
* Legal age is not as important as ability to run affairs
* If ability of a child is in question, sale is valid only in case of purely beneficial dealings
Multiplicity of contractors (i.e., a single legal proxy cannot conclude on behalf of both parties)
* Exceptions include a father, a legal guardian, or a judge in court case
2. The Contract
The offer and acceptance must correspond to each other
3. The Place
The acceptance is made in the same ‘sessions’ as the offer
4. The Object
The object of sale must exist (i.e., cannot sell non-existent object that may cease to exist)
The object of sale must be good (i.e., must be beneficial in nature)
The object of sale must be privately owned and in possession of the seller
The object of sale must be deliverable at the conclusion of the sale
5. Other Conditions
The object of sale and the price are known beyond dispute
* The object is made known to the buyer by physical examinataio n or ample description
* The price must not change after the contract has been executed
The sale is not temporary (i.e., not timed)
The sale is beneficial
There are no condition that may make the contract ‘corrupt’
The seller has the absolute authority to sell the object
The contract is excuted under mutual consent (i.e., no coercion)
QUESTION ?
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