What elements make an Islamic contract defective or invalid besides the prohibited elements in question 8? Question
Question:
What elements make an Islamic contract defective or invalid besides the prohibited elements in question 8?
Question 8
Which of the following is NOT a condition of the subject matter of the Islamic contract of sale?
a. The subject matter must exist at the time of contracting except for salam and istisna contracts.
b. It must be owned by the seller.
c. The subject matter must be halal, i.e. permitted by the Sharia.
d. The subject matter must be of high value.
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The contract or agreement is the cornerstone of any transaction in Islamic commerce and establishing ...View the full answer
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Related Book For 
Principles Of Islamic Accounting
ISBN: 9781119023296
1st Edition
Authors: Nabil Baydoun, Maliah Sulaiman, Roger J. Willett, Shahul Ibrahim
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