Al-Majallah al-Ahkam al-‘Adaliyyah
Chapter 3: Matters Relating to Price.
Section 1: Nature of and Circumstances Affecting
Price.
237. The price must be named at the time of the sale. Consequently, if
the price of the thing sold is not mentioned, the sale is voidable.
238. The price must be ascertained.
239. The price is ascertained by being seen, if it is visible. If not,
it is ascertained by stating the amount and description thereof.
240. If the price is stated to be so many gold coins in a locality in
which different types of gold coins are in circulation, without stating
the particular type of gold coin, the sale is voidable. The same rules
apply to silver coins.
241. If the price is stated in piastres, the purchaser can give any
type of coin he likes, provided that the circulation thereof is not forbidden.
242. When a contract is drawn up expressing the nature of the price,
payment must be made in whatever kind of currency is mentioned. Example:
A contract is made for payment in Turkish, English, or French pounds, or
in pieces of twenty medjidies each, or in dollars. Payment must be made
in whatever currency is stipulated.
243. Anything produced at the time of the conclusion of the contract
cannot be regarded as determining the nature of the price. Example: A purchaser
shows a gold piece of one hundred piastres which he has in his hand, and
states that he has bought such and such a piece of property with that particular
gold coin. The vendor agrees to sell. The purchaser is not obliged to give
that particular gold coin itself, but may substitute for it another gold
piece of one hundred piastres of the same type.
244. Fractions of coins may be given instead of a particular type of
coinage. In this case, however, local custom must be followed. Example:
A bargain is concluded for payment by medjidies of twenty piastres. Payment
may also be made with pieces of ten and five. But in view of custom now
prevailing in Constantinople, fraction of pieces of forty and two may be
given instead of pieces of twenty.
Section 2: Sale Subject to Payment at a Future
Date.
245. A valid sale may be concluded in which payment of the price is deferred
and is made by installments.
246. In the event of deferment and payment of the price by installments,
the period thereof must be definitely ascertained and fixed.
247. If a bargain is concluded with a promise for payment at some definite
future date which is fixed by two contracting parties, such as in so many
days, or months, or years time, or the 26th October next, the sale is valid.
248. If a bargain is concluded stipulating for payment at a time that
is not clearly fixed, such as “when it rains,” the sale is voidable.
249. If a bargain is concluded whereby credit is given for an undefined
period, payment becomes due within one month.
250. The time agreed upon for deferred payment, or payment by installments,
begins to run from the time the thing sold is delivered. Example: Goods
are sold to be paid for in a year’s time. The vendor, after keeping them
for a year, delivers them to the purchaser. The money must be paid after
a period of one year from the date of delivery, that is, upon the expiration
of precisely two years from the time of the sale.
251. An unconditional sale is concluded with a view to payment forthwith.
But in places where by custom an unconditional sale is concluded for payment
by some definite date, or by installments, payment becomes due on the date
in question. Example: A purchases a thing from the market without stipulating
as to whether payment is to be made forthwith or whether purchased on credit.
Payment must be made forthwith. But where by local custom the whole or
a part of the price is payable at the end of a week or month, such custom
must be observed.
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