سه شنبه: 1403/03/8

Laws Regarding Advance Payment Contract


2121. If a person purchases a commodity by way of advance payment, he is not entitled, until the expiry of the stipulated period of delivery, to sell it to anyone.


Nevertheless, there is no harm in selling it to any person after the expiry of the stipulated period, even if he may not have taken possession of it yet. However, it is Makrooh to sell cereals like wheat and barley, and other commodities, before taking its possession.

2122. In advance payment purchase transaction, when the seller delivers at the stipulated time, which he had sold, the buyer should accept the commodity. In addition, if the seller gives something better in quality than the one agreed upon, and if it is reckoned to belong to the same type, the buyer should accept it. 

2123. If the commodity, which the seller delivers, is of inferior quality to that which was agreed upon, the buyer can reject it. 

2124. If the seller delivers a commodity different from the one he has sold to the buyer, and the buyer agrees to accept it, there is objection in it. 

2125. If a commodity, which was sold by advance payment contract, becomes scarce at the time when it should be delivered, and the seller cannot supply it, the buyer may wait until the seller procures it, or even cancel the transaction, and take the refund.

2126. If a person sells a commodity promising to deliver it after some time and agrees to take deferred payment for it, the transaction is void.


Tuesday / 28 May / 2024