An item is sold on credit for 150,000 on condition that a specified ornament is pledged. The buyer later refuses.
Outcome 1: the seller accepts the sale without the collateral.
Outcome 2: the seller lawfully elects rescission.
Outcome 3: the buyer immediately pays the full price, or provides equivalent acceptable pledged property; the security purpose is satisfied.
The legal result differs in each case, so refusal alone does not decide the outcome.
Opening interactive controls...
Three possible outcomes of the same sale
Kitab al-Rahn: Two Pledgees, Conditional Security and Custody
An item is sold on credit for 150,000 on condition that a specified ornament is pledged. The buyer later refuses.
Outcome 1: the seller accepts the sale without the collateral.
Outcome 2: the seller lawfully elects rescission.
Outcome 3: the buyer immediately pays the full price, or provides equivalent acceptable pledged property; the security purpose is satisfied.
The legal result differs in each case, so refusal alone does not decide the outcome.