Liaison office of Grand Ayatullah Sayyid Ali Al Sistani (L.M.H.L) in London, Europe, North and South America.
2112. If a commodity is sold for cash, the buyer and seller can, after
concluding the transaction, demand the commodity and money from each other and
take possession of it. The possession of immovable things, like, house, land,
etc. and the moveable things, like, carpets, dress etc. means that the original
owner renounces all his right over them, and hands it over to the opposite party
with full right of discretion over it. In practice, the mode of delivery may
vary according to the situation.
2113. When something is sold on credit, the period should be fixed
clearly. If, a commodity is sold with a condition that the seller would receive
the price at the time of harvest, the transaction is void, because the period of
credit has not been specified clearly.
2114. If a commodity is sold on credit, the seller cannot demand what
he has to receive from the buyer before the stipulated period is over. However,
if the buyer dies, and has some property of his own, the seller can claim the
amount due to him from the heirs of the buyer, before the stipulated period is
over.
2115. If a person sells a commodity on credit, he can demand the debt
from the buyer after the expiry of the stipulated period. However, if the buyer
cannot pay it, he should give him extension of time, or rescind the transaction,
and take back the commodity, if it exists.
2116. If a person gives a quantity of some commodity on credit to a
person who does not know its price, and the seller does not tell him its price,
the transaction is void. However, if he gives it on credit to a person who knows
its cash price, and charges a higher price - for example, if he tells him: "I
shall charge ten cents per dollar more on the commodity, which I am giving to
you on credit, as compared to what I charge against cash" - and the buyer
accepts this condition, there is no harm in it.
2117. If a person sells a commodity on credit, and stipulates a period
for receiving its price, and for example, after the passage of half of the
stipulated period, he reduces his claim and takes the balance in cash, there is
no harm in it.