1. Where two items secure one debt, paying the allocated part of one does not automatically release it.
2. Agency for sale on maturity is valid; an agency stipulated in the pledge cannot be unilaterally revoked.
3. Possession of collateral does not prevent demand for the underlying debt; full repayment requires release of the pledge.
4. The pledgor’s unauthorised sale is suspended, becoming effective when the pledgee consents or the secured debt is paid in full.
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How the four consecutive rules fit together
Kitab al-Rahn: Partial Repayment, Agency to Sell and Pledgee Rights
1. Where two items secure one debt, paying the allocated part of one does not automatically release it.
2. Agency for sale on maturity is valid; an agency stipulated in the pledge cannot be unilaterally revoked.
3. Possession of collateral does not prevent demand for the underlying debt; full repayment requires release of the pledge.
4. The pledgor’s unauthorised sale is suspended, becoming effective when the pledgee consents or the secured debt is paid in full.