Category

Trade and Sales
Question: Can a counter-party’s silence upon an offer be considered to be acceptance? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.  The Answer:  The silence of the counter-party without any statement or action indicating to acceptance is not regarded as acceptance in commercial transactions[1]. The Fiqh (jurisprudence of...
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Question: How to Treat Surplus From Sale of a Collaterised asset In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.  The Answer:  Any surplus proceeds in excess of an outstanding debt realised from the sale of a collaterised asset must be returned to the debtor. They are an Amanah...
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Question: Is it necessary to display the prices of goods in a shop? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. The Answer: A citizen of any jurisdiction will follow the trading standards of his jurisdiction in terms of business practice. A resident of the UK will follow...
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