المعنى الاصطلاحي :

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To end a binding contract as well as its implications after it is concluded by mutual consent of the two parties.

الشرح المختصر :

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"Iqālah" (rescinding) is to annul a contract and its implications, such as sale and hiring contracts, by the two parties' mutual consent. Hence, the price is returned to the buyer and the commodity to the seller. "Iqālah" manner: if someone buys something from another, and the former revisited his decision because he was deceived or because he no longer needs it, then he may return the sold item to the seller, who should accept it back. "Iqālah" is valid by whatever statement denotes the intended meaning, even by the two parties saying: "We rescind the sale," or: "We cancel the sale," together. Conditions of "iqālah": 1. Eligibility of the two parties; so the "iqālah" done by a child or an insane person is invalid. 2. Consent of the two rescinding parties. If both of them are forced into "iqālah", or even one party of the two, the "iqālah" will be invalid. 3. The contract must be rescindable; this includes sale and lease contracts. "Iqālah" is invalid in endowment contracts, because "iqālah" in such contracts violates the very Shariah-purpose they were made for in the first place.

التعريف اللغوي المختصر :

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"Iqālah": annulment, removal. Original meaning: removing harm. Another opinion suggests that it is derived from "qawl", which means statement, because it cancels the previous one (statement of consent). A third opinion suggests that it is derived from "qayloolah", which means a midday nap, because it relieves the other party. Other meanings: dropping, interruption, abrogation, invalidation, abandonment, replacement.

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