Explanation of the Option of Condition and Its Form
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Question:
A questioner asks about the option of condition, saying: What is it, and what is its form?
Answer:
The option of condition is when you buy a commodity and say, "I have the option for three days or a month. If it suits me, I will not return it to you?" This is the option of condition, a conditional option between Muslims. The Prophet (peace and blessings be upon him) said, "Muslims are bound by their conditions"Sunan al-Bayhaqi 6:55 So if a person buys a commodity and stipulates an option for a known period, there is no harm in that. Yes.
A questioner asks about the option of condition, saying: What is it, and what is its form?
Answer:
The option of condition is when you buy a commodity and say, "I have the option for three days or a month. If it suits me, I will not return it to you?" This is the option of condition, a conditional option between Muslims. The Prophet (peace and blessings be upon him) said, "Muslims are bound by their conditions"
Except for a condition that makes the forbidden lawful or the lawful forbidden
إلا شرطا أحل حراما أو حرم حلالا
Source
قناة «العلامة الدكتور صالح الفوزان»، محاضرات في العقيدة والدعوة-026-الربا وخطره|صالح الفوزان|كبار العلماء — youtube.com (1:28:11)
The Arabic text is a machine transcription of the audio recording.