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    The document discusses five types of khiyars (options) in an Islamic sale contract: 1) Khiyar-e-Shart allows the buyer or seller to rescind the contract within a set number of days for any reason. 2) Khiyar-e-Roiyyat lets the buyer return goods after inspection if they do not meet specifications. 3) Khiyar-e-Aib gives the buyer the right to return defective goods. 4) Khiyar-e-Wasf applies if goods are missing a quality the seller specified. 5) Khiyar-e-Ghaban allows returning goods

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    The document discusses five types of khiyars (options) in an Islamic sale contract: 1) Khiyar-e-Shart allows the buyer or seller to rescind the contract within a set number of days for any reason. 2) Khiyar-e-Roiyyat lets the buyer return goods after inspection if they do not meet specifications. 3) Khiyar-e-Aib gives the buyer the right to return defective goods. 4) Khiyar-e-Wasf applies if goods are missing a quality the seller specified. 5) Khiyar-e-Ghaban allows returning goods

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    49 views3 pages

    Khiyars

    Uploaded by

    nadeemuzair
    The document discusses five types of khiyars (options) in an Islamic sale contract: 1) Khiyar-e-Shart allows the buyer or seller to rescind the contract within a set number of days for any reason. 2) Khiyar-e-Roiyyat lets the buyer return goods after inspection if they do not meet specifications. 3) Khiyar-e-Aib gives the buyer the right to return defective goods. 4) Khiyar-e-Wasf applies if goods are missing a quality the seller specified. 5) Khiyar-e-Ghaban allows returning goods

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    of 3

    CHAPTER 9

    KHIYARS

    The term khiyar refers to an option or right of the buyer & seller
    to rescind a contract of sale.

    There are five khiyars in a sale contract which are as follows:

    a. Khiyar-e-Shart (Optional condition): At the time of sale, buyer


    or seller can put a condition that either party has an option
    to rescind the sale within the specific number of days (such
    as 4 days). This option is called “Khiyar-e-Shart.”

    Specification of the days is necessary for this Khiyar. Within


    this period, either party has the right to rescind/terminate
    the sale without any reason. If the buyer puts the condition,
    it is called Khiyar-e-Mushtari (option of buyer) and when put
    by the seller, it is called Khiyar-e-Bai (option of seller). This
    Khiyar is non transferable to the heirs.

    b. Khiyar-e-Roiyyat (Option of inspecting goods): Here the


    goods can be returned after inspection, if they are not up to
    the specifications. This applies automatically to all contracts.
    For example, 'A' buys machinery from 'B' without seeing.
    However, 'A' has the option to return the machinery after
    inspection.

    c. Khiyar-e-Aib (Option of defect): Where the goods can be


    returned if found defective.It is the responsibility of the seller
    to supply the goods free of defect or point out the defect to
    the buyer. The seller is not allowed to hide the defect of the
    goods because it constitutes as fraud. In one of the hadiths,
    102 Meezan Bank’s Guide to Islamic Banking

    Prophet has stated:

    “He is not amongst us who indulges in fraud.”

    Therefore, the buyer has the right to return the good in case
    where presence of a deficiency is considered a defect in the
    market practice and which depreciates the value of the goods.
    For example, 'A' buys batteries from 'B'. However, 'A' has the
    option to return them to 'B' if the batteries are found to be
    defective or not in working condition.

    d. Khiyar-e-Wasf (Option of quality): This option is available


    where the seller sells the goods by specifying a certain quality
    which is absent in the goods. For example, 'A' buys a car from
    'B' who has specified automatic transmission in the car.
    However, when 'A' uses the car, he finds the transmission
    to be manual. Therefore, he has the right to return the car
    to 'B' in the absence of that specific quality.

    e. Khiyar-e-Ghaban (Option of price): Where the seller sells


    the goods at a price which is far expensive than the market
    price and the market price is not known to the buyer, a buyer
    has the right to return it to the seller. For example, a Parker
    pen is sold to 'A' by 'B' at a price of Rs.500/-. However, after
    the sale, 'A' discovers its market price to be Rs. 250/-, In this
    case, "A" has the option to return the pen to 'B'.

    Iqala (Recession of Contract)


    Where the parties freely consent to rescind the contract i.e.
    each party will give back the consideration received by it at
    the time of execution of contract.

    Neither the buyer nor the seller has the sole right to rescind
    Chapter # 09: Five Khiyars 103

    the contract after execution of a contract. Often the buyer


    wants to rescind the contract after buying goods. In this case,
    it is necessary that he gets the consent of the seller. Therefore,
    this mutual agreement between buyer and seller to rescind
    the contract is called “Iqala.”

    In one of the narrations, Prophet has stated:

    "He who does the Iqala (rescinding of the contract) with a


    Muslim who is not happy with his transaction, Allah will forgive
    his sins on the Day of Judgment."

    However, it may be noted that the price of the goods being


    returned under Iqala will remain unchanged.

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