In the name of Allah, the Most Gracious, the Most Merciful.
BOOK OF SALES (AL-BUYU')
A sale (al-bay') is the exchange of wealth for wealth, to effect transfer of ownership and acquisition of ownership (1). Its etymology is derived from the term al-ba' (the hand/arm), because each of the two parties in a transaction (2) extends their hand to give and receive. It is also possible that each of them would 'bayi'a' the other, meaning to shake hands upon the sale; for this reason, a sale is called a 'safqah' (a handshake/deal). Some of our companions said: It is an offer and acceptance, provided it involves two specific items for the purpose of transfer of ownership. This is a restrictive definition, as it excludes the sale of mutual consent (al-mu'atah) and includes contracts other than sales. The sale is permitted according to the Book (Quran), the Sunnah, and consensus (ijma'). As for the Book, it is the saying of Allah the Almighty: "Allah has permitted sale" (4). And His saying: "and take witnesses when you trade" (5). And His saying: "unless it is a trade by mutual consent from you" (6). And His saying: "There is no blame upon you for seeking bounty from your Lord" (7). Al-Bukhari (8) narrated from Ibn Abbas, who said: "[Ukaz, Mijannah, and Dhu al-Majaz] were markets in the Pre-Islamic period (Jahiliyyah). When Islam came, they felt it sinful..."
(1) Omitted from the original manuscript. (2) In manuscript M: "the two contracting parties." (3) In manuscript M: "if." (4) Surah Al-Baqarah, 275. (5) Surah Al-Baqarah, 282. (6) Surah An-Nisa', 29. (7) Surah Al-Baqarah, 198. (8) In: Chapter on Trading During the Days of the Season, from the Book of Hajj; and in: Chapter on what is mentioned regarding the saying of Allah the Almighty: "And when the prayer has been concluded...", and Chapter on the markets that existed in the Jahiliyyah, from the Book of Sales; and in: Chapter on the Tafsir of Surah Al-Baqarah, from the Book of Tafsir. Sahih Al-Bukhari 2/222, 223, 3/69, 81, 82, 6/34. (9) Ukaz, Mijannah, and Dhu al-Majaz: Markets for Mecca in the Pre-Islamic period. Mu'jam ma Ista'jam 3/959.
