The general rule from Level 122 compares the secured value and the debt when collateral perishes. The present passage explains a more specific like-kind equivalence rule.
A watch securing a 100-dirham debt calls for assessment by its relevant value. Sixty dirhams of the very same kind securing that debt raise the special like-for-like calculation. These two examples must not be flattened into a single unqualified formula.
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Distinguishing like-kind from unlike collateral
Kitab al-Rahn: Salam, Sarf, Third-party Custody and Fungible Collateral
The general rule from Level 122 compares the secured value and the debt when collateral perishes. The present passage explains a more specific like-kind equivalence rule.
A watch securing a 100-dirham debt calls for assessment by its relevant value. Sixty dirhams of the very same kind securing that debt raise the special like-for-like calculation. These two examples must not be flattened into a single unqualified formula.