A person bought gold for eight thousand riyals and paid three thousand riyals in cash, pledging the remaining five thousand in gold to be weighed on that day, on the condition that
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The questioner : A person bought gold for eight thousand riyals and paid three thousand riyals in cash, pledging the remaining five thousand in gold to be weighed on that day, on the condition that he would pay the amount within an agreed-upon period, and if he does not pay by the specified date, the gold becomes the right of the shop owner?
The Shaykh : It is not permissible for a person to buy gold with dirhams unless he delivers the price before parting ways and receives the gold before parting ways. Regarding the transaction mentioned in the question, we say: As for the part whose price was delivered, the sale is valid; and as for the part whose price was not delivered, the sale is defective. The gold belongs to the shop owner, and the dirhams are with their owner. So let the shop owner know that the transaction has been split: it is valid in the part whose price was received, and invalid in the part whose price was not received. The gold belongs to its owner; if its value increases, the increase is for the shop owner, and if it decreases, the decrease is upon the shop owner. The dirhams are with their owner, who has not delivered them until now. Yes.
The questioner : May Allah reward you and bless you. This questioner says.
The Shaykh : It is not permissible for a person to buy gold with dirhams unless he delivers the price before parting ways and receives the gold before parting ways. Regarding the transaction mentioned in the question, we say: As for the part whose price was delivered, the sale is valid; and as for the part whose price was not delivered, the sale is defective. The gold belongs to the shop owner, and the dirhams are with their owner. So let the shop owner know that the transaction has been split: it is valid in the part whose price was received, and invalid in the part whose price was not received. The gold belongs to its owner; if its value increases, the increase is for the shop owner, and if it decreases, the decrease is upon the shop owner. The dirhams are with their owner, who has not delivered them until now. Yes.
The questioner : May Allah reward you and bless you. This questioner says.