Common Contracts
1 similar Bay' Al-Wafa' Contract contracts
ContractBay' Al-Wafa' Contract • September 3rd, 2006
This sale contract has various other names with the Fuqaha' who dealt with it, such as bay' al-'uhdah (custody sale) because both parties pledge to return the substitute or the alternative after a specific period or because the buyer guarantees the item; bay' al- idah or bay' al-wa'd (promise sale) because the sale happens as a result of a binding promise instead of a condition; bay' al-amanah (trust sale) because the item sold is entrusted with the buyer; bay' al-nass (people's sale) because people used it frequently and became used to it; al-bay' al-jaa'iz (allowed sale) because some fuqaha' have legitimized it to the point that there is no other contract being legitimized as such and al-bay' al-mu'ad (the retuned sale) because there is a sale and a repurchase. It seems that this kind of sale is as old as the Fifth Century after Hijra.
