Islamic Contract Law

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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?

It is a causeless contract Signup and view all the answers

How are contracts classified based on their nature?

Into three main categories Signup and view all the answers

Can a minor enter into a binding contract?

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

What is a necessary condition for a valid acceptance?

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

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

The object must be lawful and permissible to trade. Signup and view all the answers

What is a requirement for the object of a contract?

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

What is a characteristic of a valid contract?

The contract is lawful and permissible. Signup and view all the answers

What is a condition for an offer to be valid?

The offer must exist till the issuance of acceptance. Signup and view all the answers

What is a requirement for the parties to a contract?

The parties must legally own the object. Signup and view all the answers

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

It is not valid, effective, and enforceable. Signup and view all the answers

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

The right to revoke the contract at any stage. Signup and view all the answers

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

The contract is not valid and cannot be enforced. Signup and view all the answers

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

Enforceable Contract (Nafidh) Signup and view all the answers

What is a characteristic of a fasid contract?

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

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

They are both sound contracts without any defect. Signup and view all the answers