What Is Contract in Islamic Law

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The object refers to the object of the contract on which the legal obligations are manifested. It can be a good or a good of a purchase contract or an object pledged in a pledge contract and a usufruct in a rental contract. The general requirements for the object are summarized below. The Qur`an and the Hadith established the contractual maxims that form the basis of Islamic treaties. The Qur`an mentions a number of commercial contracts in more than 40 verses. The Hanafi school of Islamic jurisprudence, followed by about a third of the world`s Muslims, was the first school to formulate contractual rules for commercial transactions and payment of goods for future deliveries. Islamic contract law is broader than English or French law because it includes certain provisions that are not considered a “contract” in the English or French legal systems. Staffing is an example of such provisions. There are several classifications for treaties in Sharia law. What concerns us, however, are those who have to do with Islamic banking. Musharakah and mudarabah are long-term equity financing agreements. Often described as the “real and ideal financing instruments” in Islamic jurisprudence.

They are based on the sharing of profits and losses between the parties. The parties involved in a transaction who share the risk are at the heart of Islamic jurisprudence so as not to create unequal justice and unnecessary suffering for one party compared to another. The Qur`an contains a large number of specific treatises and axioms of broad application in the field of contractual relations. These include various commercial contracts such as sale, rental, guarantee, guarantee and deposit. In some verses of the Qur`an, in which such treatises are indicated, the basis of the rules of the new treaties was initiated, in others the recognition and legitimization of the practice already existing at the arrival of Islam are confirmed. Lawyers disagree on whether the rights established by the marriage contract can be changed by the inclusion of provisions. Most often, these provisions are intended to guarantee certain rights or privileges to the wife. The most frequently discussed regulations stipulate that the husband will not take additional wives or move his wife from his hometown. Of the four Sunni law schools, the Hanbalis give the greatest recognition to these provisions, claiming that if the husband violates any provision, the wife has the right to dissolve her marriage. (This does not mean that any additional marriage he makes will be void, only that she can choose to leave him when he remarries; similarly, she cannot force him to stay with her in his city, but can divorce if he insists on moving her.) Lawyers from three other law schools (Maliki, Hanafi and Shafi`i), on the other hand, consider that both clauses are completely null and void and ineffective.

A woman may include these provisions in her marriage contract, but at least according to the prevailing opinion of the lawyers of these three schools, she cannot apply them under any circumstances. However, if her husband had granted her a right of divorce, if the provision had been violated, or if he had pronounced a suspended divorce that would automatically take effect if he violated the provision, then the binding force of the husband`s divorce silk serves as a guarantor for determination. (Learn more about divorce.) Some contracts are binding, Lazim, once they are concluded, they can only be revoked by mutual agreement of both parties. Some are optional, Jaiez, which can be revoked by any party and in some cases by a particular party. Islamic jurisprudence, as elaborated by various schools of legal thought, considers that the main purpose of the marriage contract is to make sexual relations between a husband and wife legal (halal) and to legitimize the resulting descendants. The marriage contract also sets out other rights and obligations for each spouse. In addition to the basic requirement of “good mutual treatment”, which is not defined by law, these rights and obligations are differentiated according to sex. They are also interdependent: a spouse`s failure to fulfil a particular obligation may jeopardize his or her right to a particular right […].