Principles Of Busines in Islam
Having knowledge of the item that is to be purchased
1. When purchasing dry groceries, seeds, etc. a person has the choice of purchasing it after having it properly weighed or he could say : "I am buying a certain amount of wheat for R1." Alternatively, he could purchase it as it is (i.e. without having it weighed nor specifying any amount) and say : "I am buying this heap of wheat for R1." No matter how much of wheat may be in that heap, all will belong to him (once he purchases it).
2. When purchasing, mangoes, guavas, oranges, etc. one has the choice of purchasing them by merely counting them or purchasing them in heaps. If a person purchases all the mangoes that are in a basket for R2 without knowing how many there are in it, the transaction will be valid. All the mangoes will be his irrespective of how many come out from that basket.
3. A woman came around selling fruit. The person said to her : "Give me some fruit equal to this brick in weight for R1." The woman agreed to sell the fruit by using the brick as a weight. However, none of them know the weight of the brick itself. Despite this, the transaction will be valid.
4. A person purchased an entire basket of mangoes, guavas, oranges or any other fruit for R100 on the condition that there are 400 mangoes (or whatever other fruit there may be) in that basket. When the mangoes were counted, there were only 300. The person purchasing the mangoes has the choice of taking them as they are or not buying them. If he buys the entire basket, he does not have to give R100. Instead, he will have to pay for only 75% of the total amount. If there are 350 mangoes, he will have to pay for 88% of the total amount. In short, the fewer the mangoes, the lesser he will have to pay.
If, after counting, more than 400 mangoes come out, the balance will belong to the seller. The buyer does not have the right to take more than 400. But if the buyer purchases the entire basket without specifying how many there are, then whatever number comes out will be his; whether they are more or less.
5. A person purchased a head-covering which is made of such a fabric that if a part of it is torn, the entire garment will become spoilt and useless. At the time of purchasing it, the person made this condition that it is 3 metres in length. When it was measured, it turned out to be less than 3 metres. In such a case, the price of this fabric will not be reduced. Instead, the buyer will have to pay the full price that had been agreed upon. However, in such a case, the only concession that they will have is that despite their agreeing on a price, the buyer has the right to take the item or leave it. If more than 3 metres are found in that length of fabric, it will belong to the buyer. He does not have to pay any additional amount of money for it.
6. A woman purchased two silk belts at night. The following morning she noticed that one of the belts is made of cotton. The transaction with regard to both these belts is not permissible; neither the one made of silk nor the one made of cotton. Similarly, if a person purchased two rings on the condition that they are made of turquoise, and later he learns that one of them is not made of turquoise but of something else, the transaction with regard to both is not permissible. If the person still wishes to purchase one of the two or both of them, then the method of doing this is that they should commence the transaction all over again and thereafter the buyer can purchase whichever one he wants.
Having knowledge of the item that is to be purchased
1. When purchasing dry groceries, seeds, etc. a person has the choice of purchasing it after having it properly weighed or he could say : "I am buying a certain amount of wheat for R1." Alternatively, he could purchase it as it is (i.e. without having it weighed nor specifying any amount) and say : "I am buying this heap of wheat for R1." No matter how much of wheat may be in that heap, all will belong to him (once he purchases it).
2. When purchasing, mangoes, guavas, oranges, etc. one has the choice of purchasing them by merely counting them or purchasing them in heaps. If a person purchases all the mangoes that are in a basket for R2 without knowing how many there are in it, the transaction will be valid. All the mangoes will be his irrespective of how many come out from that basket.
3. A woman came around selling fruit. The person said to her : "Give me some fruit equal to this brick in weight for R1." The woman agreed to sell the fruit by using the brick as a weight. However, none of them know the weight of the brick itself. Despite this, the transaction will be valid.
4. A person purchased an entire basket of mangoes, guavas, oranges or any other fruit for R100 on the condition that there are 400 mangoes (or whatever other fruit there may be) in that basket. When the mangoes were counted, there were only 300. The person purchasing the mangoes has the choice of taking them as they are or not buying them. If he buys the entire basket, he does not have to give R100. Instead, he will have to pay for only 75% of the total amount. If there are 350 mangoes, he will have to pay for 88% of the total amount. In short, the fewer the mangoes, the lesser he will have to pay.
If, after counting, more than 400 mangoes come out, the balance will belong to the seller. The buyer does not have the right to take more than 400. But if the buyer purchases the entire basket without specifying how many there are, then whatever number comes out will be his; whether they are more or less.
5. A person purchased a head-covering which is made of such a fabric that if a part of it is torn, the entire garment will become spoilt and useless. At the time of purchasing it, the person made this condition that it is 3 metres in length. When it was measured, it turned out to be less than 3 metres. In such a case, the price of this fabric will not be reduced. Instead, the buyer will have to pay the full price that had been agreed upon. However, in such a case, the only concession that they will have is that despite their agreeing on a price, the buyer has the right to take the item or leave it. If more than 3 metres are found in that length of fabric, it will belong to the buyer. He does not have to pay any additional amount of money for it.
6. A woman purchased two silk belts at night. The following morning she noticed that one of the belts is made of cotton. The transaction with regard to both these belts is not permissible; neither the one made of silk nor the one made of cotton. Similarly, if a person purchased two rings on the condition that they are made of turquoise, and later he learns that one of them is not made of turquoise but of something else, the transaction with regard to both is not permissible. If the person still wishes to purchase one of the two or both of them, then the method of doing this is that they should commence the transaction all over again and thereafter the buyer can purchase whichever one he wants.
