ويتم بالقبض
Translation: The pledge is completed through possession.
Contractual formation and completion of the pledge are distinct legal stages. Offer and acceptance form the agreement; a qualifying delivery makes the pledge binding, so prior to delivery the pledgor retains the option to withdraw.
Example: a borrower offers his bicycle as security and the creditor agrees, but it remains under the borrower's unfettered control. Formation has occurred; the required possession has not.
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Formation is different from completion
Kitab al-Rahn: Pledge Formation, Possession, Liability and Eligible Collateral
ويتم بالقبض
Translation: The pledge is completed through possession.
Contractual formation and completion of the pledge are distinct legal stages. Offer and acceptance form the agreement; a qualifying delivery makes the pledge binding, so prior to delivery the pledgor retains the option to withdraw.
Example: a borrower offers his bicycle as security and the creditor agrees, but it remains under the borrower's unfettered control. Formation has occurred; the required possession has not.