fiqh iium kenms

TYPE OF FRAUD

1.       ACTUAL  FRAUD

A situation whereas a person change the subject of the contract in intention to cheat another person.

Examples a second hand seller car try to paint the car and reset the mileage of a car to make it look new

2.       VERBAL FRAUD

One parties try to convince another parties to enter into a contract using wrong information or lying.

Examples multi level marketing company try to convince your investment will double up after certain dates, but its actually not.

3.       HIDING THE TRUTH FRAUD

Seller hide the defects of subject of the contract

Examples; fruits seller hide defects fruits.

RIBA ALFADHL

Riba alfadhl is prohibited by the hadith of prophet P.B.U.H based on the sales contracts. Any additions of exchange ribawi commodities against each other’s addition is prohibited.

Gold is to be paid by gold, silver by silver, wheat by wheat, barley by barley, dates by dates, salt by salt, like by like; payment has to be ,ade by hand to hand. He who made an addition to it, and ask for addition to it, in fact dealt with usury. The receiver and the giver are equally guilty.

According to most of fiqh scholar general application not only limited to 6 item but it should be extended to other commodities through qiyas.

If one of the parties doesn’t want to exchange with the same type of commodities examples dates with dates then one of them should sell his dates and use the money to purchase the dates from another parties. The exchange should be taken immediately and from hand to hand. Himah behid the prohibition of riba alfadhl is that value of ribawi commodities such dates cannot be exchange with other dates. Examples value of lowered dates cannot be exchange with higher quality dates.

CONFORMITY OF OFFER AND ACCEPTANCE

Buyer must follows seller term and condition in order to make contract valid. Examples when seller make a promotions of 2 computer for 3000$ buyer cant buy only one the computer for 1500$. The offer only when you buy both computers.

HOMOGENOUS PROPERTY

Is a property that have equal quantity of something similar to them in markets. Homogenous property by measure by 4 types, weight, measure, number, measurement.

VOIDABLE CONTRACT

A contract made with defective consent such as a person were force to enter into contract under duress. The contract voidable when parties agree on void conditions. Voidable contract is valid when  prohibited attributes is remove.

GHARAR

Gharar is uncertainty. Refers to sales contract that attractive to purchaser to it form but there is unknown and ambiguous about the substance. Quran prohibits all dealing where the intention is to deceive one of the parties. Gharar arise when subject matter is not delivered, will not acquire, and not clear. For examples, fish in the water, bird in the sky and foetus in animal womb. Gharar are use fraudlent to obtain property unlawfully and create disagreement between parties.

To avoid gharar, all pillar of a contract need to fulfil the offer and acceptance, parties and subject matters.  Offer and acceptance have clear. The word used in offer and acceptance should clearly indicate and express consent of the parties with certainty. Both parties must have legal capacity. If one of them are not he must be under supervision under his guardian. Parties must aware the consequences of the contacts and understand the content of the contract clearly. Subject matter must be in existence at the time of contracts, subject matter can be delivered, subject matter must precisely determine (the brand, quality and the type of subject matter). If one of the pillar of the contract not be fulfil the contract considered void.

AQAD

Is combination of offer of one parties and acceptance of another parties in the manners it effects subject matters. Subject matter is commodities of the seller. There must combination between 2 of them in the same majlis aqd. Not recommended to have witness in sales contracts. Ijab is offer and qabul is acceptance. Both parties must have consent in making contract, they must have willingness in involve in the contract. Consent can see in word, gestures. Seller have the obligation to delivered the subject matters and buyer have obligation to paid the subject matters. Essential elements of aqd 3 element if there are not there sale is not valid, 1.offer and acceptance, 2.parties, 3.subject matters. Forms of the contract must be clearly – clear languages, free of conditions that involve in gharar, 2. Conformity of offer with acceptance to subject matters. Offer and acceptance must be in same trading session majlis aqd. If offer is made and the contract not come to conclusion or parties saperate and leave the place. The a few days later a buyer willing to accept the offers, the offers is invalid and offer will be cancel with the conclusion of offer. Seller have to make a new offers. If the promise the contract or offer is still valid. Offer and acceptance in phone and internet, email, fax contract is valid.    Expression of consent. Any statement you made that indicate you buy from another person the other person is selling it to you. 1.spoken, 2.writing, 3. Action, 4. Modern communication word Contract can be concluded by action, seller delivered the commodity to buyer without any expression of words (bai almuatat). If one of the parties is passes away before the sale is concluded the offers is cancel, inherited cant claim the offers. Or if he lose the capacity to make atransaction he become crazy and mentally sick. Contract also cancel when buyer don’t meet the conclusion, subject matter is destroyed and destruction (grains hit by heavy grain and the grain is destroyed). Time fixed for acceptance if the period is pass the offer is cancel. Element of subject matter either commodities and services (accountant, lawyer, counselling). Subject matter should be exist except bai al salam (future sales) pay the price expect a person will delivered merchandise after certain period. Istina (manufacturing) one parties promise make or build something and buyer paid the price before the object done, this contract must be cleared and to be agree upon. Subject matter must value - material value and legal value. Subject matter can owned, public property cant be owned, haram item. Subject matter must own by the seller, we not allowed to sold things we don’t own, subject matters can be delivered, examples car are stolen, seller offer the stolen car with cheaper prices. Subject matter have to specify, in front of you, and well describe to you we able to make a sales.