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Cancelling A Transaction If The Buyer Does Not Pay

Question

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?

Answer

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.

References

( انظر مادة ٢٠ ) (درر الحكام فى شرح مجلة الأحكام ٢٦١/١) 

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