A nvalid Condition and Related Practical Rulings Applicable to Mutual Transactions (A Research study in the Light of Comparative Fiqh)

Abstract

A lot of Quranic verses and Hadiths are related to the detailed discussions about the conditions contained in mutual transactions and their effects as well as related Shariah rulings. Such conditions may increase or decrease the liabilities and/or benefits of the concerned parties. This happens, in fact, because of the words used or conditions stipulated in the contractual arrangements.Both Quran and Sunnah contain guide us that some of these conditions are permissible, and the concerned parties may stipulate them in the contract; but some of them are not permissible. The reason behind their impermissibility is that such conditions are either contrary to the very spirit of the contract, or they go against some Shariah guidelines, or they violate the purpose of Shariah. Keeping all this in view, the Islamic jurists have discussed in detail both types of conditions _ permissible and impermissible.And, the same subject has been dealt with in this paper. Currently, countless ways of trading are in vogue. Parties to a contract stipulate various conditions regardless of their Shariah status. Sometimes, failure to abide by these conditions leads to disputes.But at the same time, a large scale global trading is carried on in compliance with the Islamic rules; and both Muslims and non-Muslims admit the usefulness of this trend. Therefore, it is necessary to analyze such conditions and find out practical implementation of the Shariah rulings about them to modern-day transactions. The Paper in focus is all about this need. It contains two parts: the first one discusses the details of these conditions in the light of comparative Fiqh and the second one encompasses the application of related Shariah rulings to mutual transactions.