Draft:Bayʿ al-Nasīʾa
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Bayʿ al-Nasīʾa (credit sale) is a transaction in which the commodity is present and the payment of its price is deferred. Bayʿ al-nasīʾa is discussed in the section of trade among the jurisprudential sections. Also, in the book Wasāʾil al-Shīʿa, there is a chapter titled "Jawāz al-Bayʿ al-Nasīʾa" (Permissibility of Credit Sale), and under it, three narrations are mentioned.
According to jurists, bayʿ al-nasīʾa is valid if the time of payment for the price of the commodity is precisely specified. Furthermore, the seller and the buyer must be aware of the specified time for the payment of the price; otherwise, the sale is invalid.
According to some researchers, installment sale (bayʿ qisṭī), in which the price of the commodity is paid in equal and regular installments and within a specified period, is a type of bayʿ al-nasīʾa and has the rulings of bayʿ al-nasīʾa.
Conceptology
Bayʿ al-nasīʾa is a type of sale contract and refers to a contract in which the commodity is present and the payment of its price is deferred.[1] In contrast to bayʿ al-nasīʾa is bayʿ al-salaf (forward sale), which is a contract in which the commodity is deferred and its payment is present.[2] The jurisprudential rulings of bayʿ al-nasīʾa are stated in the section of trade among the jurisprudential sections.[3] In the book Wasāʾil al-Shīʿa, there is a chapter titled "Jawāz al-Bayʿ al-Nasīʾa", and under it, three narrations are mentioned.[4]
Nasīʾa was originally "nasīʾah"[5] and this word is from the root "n-s-ʾ", meaning a delay in the payment of a debt and liability.[6]
Jurisprudential Rulings
Some of the jurisprudential rulings of bayʿ al-nasīʾa are as follows:
- According to jurists, bayʿ al-nasīʾa is a valid contract; meaning the buyer can stipulate that all or part of the price of the commodity be paid with a delay and at a specified time.[7] For this ruling, evidences such as consensus[8] and narrations from the Infallible Imams (a)[9] have been cited.
- The validity of bayʿ al-nasīʾa is conditional upon specifying the duration for the payment of the price, and if it is stipulated that the price will be paid later, but its time is not specified or is postponed to an ambiguous time, according to the famous view of jurists, the sale is invalid.[10] The meaning of ambiguous time; i.e., the buyer, instead of specifying an exact time for the payment of the price, postpones it to something like the time of the arrival of pilgrims from the Hajj journey.[11]
- According to jurists, the parties to a sale in bayʿ al-nasīʾa must have knowledge of the time specified for the payment of the price; otherwise, even if one of them has knowledge, the sale is invalid.[12]
- The buyer can sell the purchased commodity while he has not yet paid its price, before the due date of payment, back to the seller himself or to another person.[13]
- If in a credit transaction, the buyer is unable to deliver a portion of the money or the price of the commodity within the specified deadline, the seller has the option to either wait for the buyer to provide the rest of his money, cancel the entire transaction, or cancel the transaction only with respect to the remaining amount.[14]
- It is not obligatory for the buyer to pay the price of the commodity earlier than the appointed time, even if the seller demands it.[15]
- Someone who sells a commodity on credit, for example, up to one month, if after 15 days he reduces a part of his claim and takes the rest in cash, it is permissible with the consent of the buyer.[16]
- If the seller sells a commodity or item on credit in exchange for receiving a higher price, and the buyer accepts, according to some jurists, there is no obstacle.[17]
- If the seller stipulates within a credit transaction that if the buyer does not pay the price of the commodity at the specified time, he must pay a certain amount for each day or month of delay, according to jurists such as Imam Khomeini and Sayyid Abu l-Qasim al-Khoei, this condition is not valid.[18]
Installment Sale (Bay' Qisti)
It is considered a type of bayʿ al-nasīʾa and deferred sale in which it is stipulated that the price of the commodity will be paid in equal and regular installments and within a specified and reasonable time period.[19]
Abd al-Hadi al-Fadli in his article titled "Bayʿ-i Qisṭī" believes that although installment sale is one of the transactions that have become common in the modern world with the aim of facilitating the sale of goods for the seller and making it easier for the buyer to use; however, in Islamic jurisprudence, during the discussion of bayʿ al-nasīʾa, a passing reference is made to it.[20] According to Fadli, installment sale is a type of bayʿ al-nasīʾa, and the rulings that are stated for bayʿ al-nasīʾa also apply to installment sale.[21] Some of the rulings of installment sale are:
- In an installment sale, the time and amount of the installments must be specified; otherwise, the sale is invalid.[22]
- According to some jurists, the installment buying and selling of a commodity at a price higher than its cash price is permissible.[23]
Notes
- ↑ Shahīd al-Thānī, al-Rawḍat al-bahiyya fī sharḥ al-Lumʿat al-Dimashqiyya, 1410 AH, vol. 3, pp. 512-513.
- ↑ Shahīd al-Thānī, al-Rawḍat al-bahiyya fī sharḥ al-Lumʿat al-Dimashqiyya, 1410 AH, vol. 3, p. 513.
- ↑ Group of authors, Dāʾirat al-Maʿārif-i fiqh-i Fārsī, 1387 Sh, vol. 2, p. 202.
- ↑ Ḥurr al-ʿĀmilī, Wasāʾil al-Shīʿa, 1413 AH, vol. 18, p. 35.
- ↑ Dihkhudā, Lughatnāma-yi Dihkhudā, under the word "nasīya".
- ↑ Ibn Manẓūr, Lisān al-ʿArab, under the word "n-s-ʾ".
- ↑ Najafī, Jawāhir al-kalām, 1362 Sh, vol. 23, p. 99.
- ↑ Najafī, Jawāhir al-kalām, 1362 Sh, vol. 23, p. 99.
- ↑ Najafī, Jawāhir al-kalām, 1362 Sh, vol. 23, p. 99; Ḥurr al-ʿĀmilī, Wasāʾil al-Shīʿa, 1413 AH, vol. 18, p. 35.
- ↑ Shahīd al-Thānī, Masālik al-afhām, 1423 AH, vol. 3, p. 223; Baḥrānī, al-Ḥadāʾiq al-nāḍira, Muʾassasat al-Nashr al-Islāmī, vol. 19, p. 120.
- ↑ Muḥaqqiq al-Ḥillī, Sharāʾiʿ al-Islām, 1408 AH, vol. 2, p. 19.
- ↑ Najafī, Jawāhir al-kalām, 1362 Sh, vol. 23, p. 101.
- ↑ Najafī, Jawāhir al-kalām, 1362 Sh, vol. 23, p. 108.
- ↑ "Furūsh-i kālā-yi kharīdārī shuda qabl az taḥwīl", Official website of the office of Grand Ayatollah Sayyid 'Ali Husayni Sistani.
- ↑ Najafī, Jawāhir al-kalām, 1362 Sh, vol. 23, p. 114.
- ↑ Khumaynī, Risāla-yi najāt al-ʿibād, 1422 AH, p. 233.
- ↑ "Tafāwut-i qīmat dar muʿāmila-yi naqd wa nasīʾa", Website of the office of Grand Ayatollah Makarim Shirazi.
- ↑ Imām Khumaynī, Istiftāʾāt-i Imām Khumaynī, 1372 Sh, vol. 2, p. 102; Khūʾī, Istiftāʾāt, Muʾassasat al-Khūʾī al-Islāmiyya, p. 269.
- ↑ Faḍlī, "Bayʿ-i qisṭī", p. 61.
- ↑ Faḍlī, "Bayʿ-i qisṭī", p. 58.
- ↑ Faḍlī, "Bayʿ-i qisṭī", p. 67.
- ↑ Tabrīzī, Istiftāʾāt-i jadīd, 1385 Sh, p. 233.
- ↑ Muntaẓarī, Istiftāʾāt, 1384 Sh, vol. 2, p. 272.
References
- Ibn Manẓūr, Jamāl al-Dīn, Lisān al-ʿArab, Beirut, Dār Ṣādir, 1414 AH.
- Baḥrānī, Yūsuf, al-Ḥadāʾiq al-nāḍira, Qom, Muʾassasat al-Nashr al-Islāmī, n.d.
- Group of authors, Dāʾirat al-Maʿārif-i fiqh-i Fārsī, Qom, Encyclopedia of Islamic Jurisprudence Institute, 1387 Sh.
- Ḥurr al-ʿĀmilī, Muḥammad b. Ḥasan, Wasāʾil al-Shīʿa, Qom, Al al-Bayt Institute, 1413 AH.
- Khumaynī, Sayyid Rūḥ Allāh, Risāla-yi najāt al-ʿibād, Tehran, Institute for Compilation and Publication of Imam Khomeini's Works, 1422 AH.
- Khumaynī, Sayyid Rūḥ Allāh, Istiftāʾāt-i Imām Khumaynī, Qom, Society of Seminary Teachers of Qom, 1372 Sh.
- Khūʾī, Sayyid Abu l-Qāsim, Istiftāʾāt, Qom, Muʾassasat al-Khūʾī al-Islāmiyya, n.d.
- Dihkhudā, ʿAlī Akbar, Lughatnāma-yi Dihkhudā, Tehran, Rūzana Publications, 1373 Sh.
- Shahīd al-Thānī, Zayn al-Dīn b. ʿAlī, al-Rawḍat al-bahiyya fī sharḥ al-Lumʿat al-Dimashqiyya, 1398 AH, Qom, Dāwarī Publications, 1410 AH.
- Shahīd al-Thānī, Zayn al-Dīn b. ʿAlī, Masālik al-afhām, Qom, Muʾassasat al-Maʿārif al-Islāmiyya, 1423 AH.
- Faḍlī, ʿAbd al-Hādī, "Bayʿ-i qisṭī", Fiqh-i Ahl-i Bayt magazine, no. 30, Summer 1381 Sh.
- "Furūsh-i kālā-yi kharīdārī shuda qabl az taḥwīl", Official website of the office of Sayyid 'Ali Husayni Sistani, posted: Aban 30, 1401 Sh.
- Muḥaqqiq al-Ḥillī, Jaʿfar b. Ḥasan, Sharāʾiʿ al-Islām, Qom, Ismaʿiliyan Institute, second edition, 1408 AH.
- Muntaẓarī, Ḥusayn ʿAlī, Istiftāʾāt, Tehran, Sāya Publication, 1384 Sh.
- Najafī, Muḥammad Ḥasan, Jawāhir al-kalām, Beirut, Dār Iḥyāʾ al-Turāth al-ʿArabī, seventh edition, 1362 Sh.