Suppose the buyer pays the entire Rs 100,000 during the sitting. The seller undertakes to provide 500 kg of a defined rice variety and grade on 1 February 2027 at a specified warehouse; goods of the stipulated kind remain obtainable in the market throughout the period.
The genus, type, grade, quantity, date, relevant delivery location and capital are all determined. The promise is not restricted to one farmer’s particular field. This is a classroom application of the principles; other transaction-specific conditions still require examination before a real contract is implemented.
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A fully specified practical salam contract
Bab al-Salam: Advance Price, Specified Goods, Delivery Date and Conditions
Suppose the buyer pays the entire Rs 100,000 during the sitting. The seller undertakes to provide 500 kg of a defined rice variety and grade on 1 February 2027 at a specified warehouse; goods of the stipulated kind remain obtainable in the market throughout the period.
The genus, type, grade, quantity, date, relevant delivery location and capital are all determined. The promise is not restricted to one farmer’s particular field. This is a classroom application of the principles; other transaction-specific conditions still require examination before a real contract is implemented.