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What is the law regarding a Faasid sale?

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Asked on June 10, 2008 12:00 am
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If the two contracting parties contract a Faasid sale, and there are two articles of exchange, and each one is regarded as a legitimate commodity and the buyer takes possession of the sold article with the consent of the seller, then the buyer will own the item and the exchange (price) will be binding upon him. However, it is necessary upon both the parties to cancel this sale, as it is Faasid. [It is necessary for both parties to cancel the sale before taking possession of the goods or after, as long as the sold article is still intact in the hands of the buyer, due to this sale being Faasid. They have sinned and this sin must be removed] (Kitaabul Buyoo).
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Answered on June 10, 2008 12:00 am