Conditions of Installment Sales
Machine translationRead the Arabic original
Answer:
The conditions of a sale are well known; there are seven: that one owns the item being sold or has been authorized to sell it, that one is able to deliver it, that the item being sold is known, that the price is known, and so on for the remaining conditions of a sale. Once the conditions of the sale are met, the sale is valid, whether it is an immediate sale or a deferred one, whether the deferral is for a single term or paid in installments. This is based on the saying of Allah the Exalted:[Al-Baqarah 2:275] The default ruling in transactions is permissibility, except for what evidence indicates to be forbidden.
The conditions of a sale are well known; there are seven: that one owns the item being sold or has been authorized to sell it, that one is able to deliver it, that the item being sold is known, that the price is known, and so on for the remaining conditions of a sale. Once the conditions of the sale are met, the sale is valid, whether it is an immediate sale or a deferred one, whether the deferral is for a single term or paid in installments. This is based on the saying of Allah the Exalted:
But Allah has permitted trade and has forbidden interest
وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا
Source
نور على الدرب - الفوزان - 03/171 — archive.org (20:21)
The Arabic text is a machine transcription of the audio recording.