Zaid sold an item to Amar and said that if you do not pay me by the end of this month then our transaction is cancelled. Is this permissible?
Such a transaction is permissible. If Amar doesn’t pay by the end of the month then the transaction will terminate.
Checked and Approved By:
Mufti Muhammed Saeed Motara Saheb D.B.
( انظر مادة ٢٠ ) (درر الحكام فى شرح مجلة الأحكام ٢٦١/١)