Law of Sales in Islam

116 Pages Posted: 22 Nov 2011 Last revised: 5 Jul 2012

Date Written: June 14, 2012

Abstract

This paper contains the law of sales in Islam. Various aspects have been discussed to make the subject clear.

Unit of Society is a human being. A society is the other name of organization of individuals. Human beings are social by nature. They are habitual to live together. In their needs they are dependent upon one another. The reason is that wants of human beings are many and multiple and they cannot individually fulfil them. Hence under the Divine wisdom some individual have been blessed with special capability and interest to perform a certain work while some others have been blessed with potentials and ability to perform some other work. This generates mutual cooperation (ta`awun/تعاون) and they are able to help each other and all can live a life conveniently (bi’l-yusr/بِالۡیُسۡر). If one is interested in commerce and trade, the other is interested agriculture and still another in war and politics. Similarly some go after seeking knowledge and wisdom while others learn art, skill and manufacture. System of sale and purchase came into existence. For every activity and non-activity there is a Shari`ah value (Hukm/حُکم) in Islam as to its validity and invalidity. Hence where Islam teaches the rule of conduct in the matter of true beliefs and valid conceptions, morals and habits and tells the manners of worship of God and obeying God and His Messenger [صلی اللہ علیہ وآلہ وسلم] it also provides guidance in the matters of trade, commerce and mutual dealings. This is to leave no s aspect of human life without guidance in the light of the Holy Qur’an and Sunnah of the Messenger of Allah (صَلَّی اللہُ عَلیۡہِ وَ آ لِہٖ وَسَلَّم) and Muslims may not look towards others in these affairs. The guidance (hidayat/ھدایۃ) is extremely necessary for the reason that validity or invalidity of any act in Islam is subject to an act being lawful or unlawful according to the Injunctions of Islam as available in the Holy Qur’an and Sunnah of the Messenger of Allah (صَلَّی اللہُ عَلیۡہِ وَ آ لِہٖ وَسَلَّم).

JEL Classification: sale in islam, law, islamic jurisprudence, islamic modes of trade and business, islam, qur'an, hadit

Suggested Citation

Mughal, Munir Ahmad, Law of Sales in Islam (June 14, 2012). Available at SSRN: https://ssrn.com/abstract=1961944 or http://dx.doi.org/10.2139/ssrn.1961944

Munir Ahmad Mughal (Contact Author)

Punjab University Law College ( email )

(Res.)125-B, Judicial Colony, Lahore
Lahore, Punjab 54000
Pakistan
042-35304847 (Phone)
042-35311498 (Fax)

Superior Law College

(Res.)125-B, Judicial Colony
Lahore, Punjab 54000
Pakistan
0092-42-35304847 (Phone)
0092-42-35311498 (Fax)

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