The following is a translation from the Arabic book 'Mashroo’ Qaanoon Al-Buyoo’ Fee Dawlah Al-Islaamiyah', first edition by Ziyaad Ghazlaan. Article 4: The Majlis (sitting) of the ‘Aqd of Al-Bai’ (contract of trade) is the circumstances (Haal) in which the Baa’i (seller) and Mushtari (purchaser) are actively engaged in the Bai’ (trade). This means the time in which the seller and buyer are engaged in the process of trade and its reality has been explained by Ash-Sheikh Mustafaa Az-Zarqaa when he stated: [The state in which the two contracting parties are engaging in negotiations about the contract] (Al-Madkhal Al-Fiqhi Al-‘Aamm 348/1). So the Majlis of the ‘Aqd extends throughout the period of time that is after the Eejaab (offer) as long as this period does not include that which indicates opposition from either the seller or buyer. And the evidence for this is the speech of Allah (swt): Unless it is a trade by mutual consent between you. (An-Nisaa 29) And h...
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