Taking a non refundable deposit

Question ID: 27632

Asalamu alaikum warahmatullahi wa barakatahu.

Background Info: I was having difficulty selling my business. At the time a lot of people would come forward and express their interest in purchasing the business. However when the time came to conclude the contract, they would back out for various reasons.
This was frustrating as i could not discern who was a genuine buyer and who was merely wasting my time. As a result, i had concluded a contract with an individual, who had expressed an interest in purchasing the business, wherein i took an amount of R 5000 as a not refundable deposit. This was clearly explained to the individual.

Question 1

Is my keeping of this non refundable deposit acceptable?

Question 2

If i am unable to trace the whereabouts of the individual who gave me this deposit, kindly advise what i should do with the money to absolve myself of any liability?


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Asked on January 25, 2009 12:00 am
Private answer

1) No

2) Give it out in charity on behalf of the person.

Marked as spam
Answered on January 25, 2009 12:00 am