وَيَجُوزُ الْبَيْعُ بِثَمَنٍ حَالٍّ وَمُؤَجَّلٍ إِذَا كَانَ الْأَجَلُ مَعْلُومًا.
Translation: A sale is permitted for an immediately payable price or a deferred price, provided the term is known.
Hal is an immediately due price; mu'ajjal is a price deferred to a specified term.
Both modes are recognized, but a deferred payment date or term must be known.
“1,000 rupees payable on November 30” has a stated maturity date. “Pay whenever it becomes convenient” lacks the needed certainty.
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Kitab al-Buyu: Offer, Acceptance, Binding Sales and Price Clarity
وَيَجُوزُ الْبَيْعُ بِثَمَنٍ حَالٍّ وَمُؤَجَّلٍ إِذَا كَانَ الْأَجَلُ مَعْلُومًا.
Translation: A sale is permitted for an immediately payable price or a deferred price, provided the term is known.
Hal is an immediately due price; mu'ajjal is a price deferred to a specified term.
Both modes are recognized, but a deferred payment date or term must be known.
“1,000 rupees payable on November 30” has a stated maturity date. “Pay whenever it becomes convenient” lacks the needed certainty.