Islamic Contract Law
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Questions and Answers

Who among the following can enter into a binding contract?

  • A person legally declared a prodigal
  • A person suffering from an illness
  • A person of unsound mind
  • An adult of sound mind (correct)

    • What is essential for a contract to be enforceable?

  • A legal subject matter (correct)
  • A bilateral contract
  • Consent of the recipient
  • A unilateral promise

    • Which of the following contracts is strictly prohibited under Islamic law?

  • A contract based on a unilateral promise
  • A contract in violation of the prohibition of Riba (correct)
  • A contract based on a bilateral promise
  • A contract with a legal subject matter

    • What is the characteristic of a unilateral contract?

    <p>It is a causeless contract</p> Signup and view all the answers

    How are contracts classified based on their nature?

    <p>Into three main categories</p> Signup and view all the answers

    Can a minor enter into a binding contract?

    <p>No, minors are incapable of entering into a binding contract</p> Signup and view all the answers

    What is a necessary condition for a valid acceptance?

    <p>The acceptance must conform to the offer in all its details.</p> Signup and view all the answers

    What is a condition for the subject matter of a contract?

    <p>The object must be lawful and permissible to trade.</p> Signup and view all the answers

    What is a requirement for the object of a contract?

    <p>The object must be potentially capable of delivery to the buyer at the time of the contract.</p> Signup and view all the answers

    What is a characteristic of a valid contract?

    <p>The contract is lawful and permissible.</p> Signup and view all the answers

    What is a condition for an offer to be valid?

    <p>The offer must exist till the issuance of acceptance.</p> Signup and view all the answers

    What is a requirement for the parties to a contract?

    <p>The parties must legally own the object.</p> Signup and view all the answers

    What is the characteristic of a void contract according to Islamic law?

    <p>It is not valid, effective, and enforceable.</p> Signup and view all the answers

    What is the main difference between an irrevocable lazim contract and a revocable contract?

    <p>The right to revoke the contract at any stage.</p> Signup and view all the answers

    What is the consequence of a contract that involves a prohibited subject matter?

    <p>The contract is not valid and cannot be enforced.</p> Signup and view all the answers

    What is the classification of a contract that does not involve any right of the third party?

    <p>Enforceable Contract (Nafidh)</p> Signup and view all the answers

    What is a characteristic of a fasid contract?

    <p>The contract has essential elements but doesn't fulfill all necessary conditions.</p> Signup and view all the answers

    What is the common characteristic of both irrevocable and revocable lazim contracts?

    <p>They are both sound contracts without any defect.</p> Signup and view all the answers

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