Conditional refund query

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Question : I offered to purchase a vehicle (mini 1970’s model) and deposited the purchase amount into the sellers account. On collection of the vehicle, I realized the vehicle may not be appropriate as my wife would have difficulty driving it. I proposed to the seller that I’ll take the vehicle subject to my wife confirming she could drive the vehicle; and in the spirit of not compromising  the seller I offered he could keep my money … [Read more...]

UNDERSTANDING COMPANIES, SHARES AND LIMITED LIABILITY

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  الحمد لله رب العلمين و الصلوة و السلام على سيدالانبياء و المرسلين   In response to recent concerns regarding the difference of opinion in the Shar’i permissibility of shares, stocks, companies, the concept of limited liability and other interrelated transactions; this treatise is being presented investigating the realities of these modern business practices and examining how they fare in terms of the Sharia. This … [Read more...]