المعنى الاصطلاحي :

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Exchange of a property for another for the purpose of ownership and transferring ownership.

الشرح المختصر :

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"Bay‘" (sale transaction) is a Shariah-approved contract that is binding for two parties. The seller transfers the ownership of an item or a pecuniary right to the buyer, and the buyer gives the seller a price in return. There are three pillars for "bay‘": the words used to show mutual consent, the buyer and seller, and the purchased commodity. There are seven conditions for "bay‘": 1. Mutual consent between the buyer and the seller. 2. The buyer and seller should be qualified to manage their affairs, i.e. they must be free, legally competent, and mature. 3. The merchandise should be of a lawful benefit. 4. The merchandise should be the property of the seller, or he should be authorized to sell it at the time of contract. 5. The merchandise should be known to both parties, either by seeing it or by description. 6. The price should be defined. 7. The merchandise should be submittable (deliverable).

التعريف اللغوي المختصر :

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"Bay‘": to grant ownership of a property in exchange for another. The word "bay‘" can also mean purchasing. Original meaning: exchanging something for another, as it happens in selling. Derivatives include the word "mubayā‘ah" and "bay‘ah", which mean contracting and giving one's allegiance. It is also said that "bay‘" is derived from "bā‘", which means arm, because each of the transactors would extend their arms to give and take.

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