Can a counter-party’s silence upon an offer be considered to be acceptance?

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 … More Can a counter-party’s silence upon an offer be considered to be acceptance?

How are Surplus Proceeds From the Sale of a Collaterised Assets Treated?

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 … More How are Surplus Proceeds From the Sale of a Collaterised Assets Treated?

Does a Valid Sale Require Displaying of the Price?

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 … More Does a Valid Sale Require Displaying of the Price?