An ordinary sale cannot be concluded for something that does not yet exist. Selling the unborn calf of a cow, for example, is not a valid ordinary sale. Mutual consent alone does not cure the absence of the subject matter.
This rule is especially important in financing because cost-plus sale (مرابحة) is valid only when the financing remains a real sale. The sequence of ownership, possession, risk and final sale must therefore be visible in the transaction.
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Cost-Plus Sale (مرابحة): Foundations and Rules of Sale
An ordinary sale cannot be concluded for something that does not yet exist. Selling the unborn calf of a cow, for example, is not a valid ordinary sale. Mutual consent alone does not cure the absence of the subject matter.
This rule is especially important in financing because cost-plus sale (مرابحة) is valid only when the financing remains a real sale. The sequence of ownership, possession, risk and final sale must therefore be visible in the transaction.