Price and Object Deferred Sale

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Dictionary term

Definition of "Price and Object Deferred Sale"

A sales contract where goods and price thereof are deferred. Under the normal rules of the shari‘ah, it is not a lawful contract. But bai‘ al-istisna‘ is one such sale where both the goods and the price are deferred and the Hanafites allow it on the basis that the bai‘ al-’istisna‘a is not a binding agreement.


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