Lesson 0ne

Question 1

Name the two types of bay

Answer 1

Bay mutlaq

Bay ta’aatee

Question 2

What is bay

Literally and sharia

Answer 2

The literal meaning of Bay’ is “to exchange”.

The Shar’i meaning of Bay’ is to barter one commodity for another by making one the owner of the bartered goods.

Question 3

What are the Conditions of buying and selling

Answer 3

1. Both persons (parties) should be sane.
2. Both persons (parties) should be adults.
3. If a child does any dealings, he should be able to recognise the value of money and he should also have the knowledge of the transactions undertaken.

Question 4

What is the

Seller
Purchaser
Purchased item /item sold
Pirchase price

Answer 4

Seller (ba’i)

Purchaser (mushtari)

Purchased item /item sold (mabi’)

Purchase price (thaman)

Question 5

Give exaoles of the two types of the bay mtlaq

Answer 5

When he found the commodity, he walked to the seller, negotiated a price and paid for it in gold, silver or any other form. The buyer said: “I have bought” and the seller said: “I have sold”.

A person went to the market to buy a commodity. He wanted to exchange his goods for the seller’s goods. Both parties agreed to this; the exchange was made and the buyer said: “I have bought”, the seller said: “I have sold”:

Question 6

Lits se rules regarding sale

Answer 6

1 the phrase: “I have bought” and the seller should say “I have sold” should be used in the past tense

2. the buyer says: “I have bought”, but walks away displaying an attitude of disregard towards the seller, the sale is not complete
3. A person says: “I have taken this item for R10-00”> The other replies: “Take it.” The sale is valid.
4. In the sale of an article it is necessary for both the buyer and seller to speak in clear unambiguous terms
5. Buyer says “First give the article, then I will pay you”. To this the seller replies: “No, first give the money, then I will give it”. In such a case the money must be given first.