Al-bai‘ al-nafidh
Definition of "Al-bai‘ al-nafidh"
A contract of sale that does not involve any right of the third party. It is of two types: lazim (binding) and ghair lazim (non-binding). The lazim is a contract of sale that has no options (to rescind) for any of the parties and the ghair lazim is a contract of sale that may have at least one option for any of the parties.