The implications of ghubn in islamic contracts : an analysis of current practices

Mutual consent is one of the important elements in Islamic law of contracts. However, the consent itself may be disrupted by defects that can affect parties to the ontracts. There are a number of vitiating factors that may have effect on the validity of contract such as tadlis, ikrah, ghubn etc. Thi...

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Main Authors: Omar, Muhammad Naim, Arifin, Mahamad, Mohammad Napiah, Mohammad Deen, Abdullah, Mohamad Asmadi
Format: Article
Language:English
Published: American-Eurasian Network for Scientific Information (AENSI), Jordan 2011
Subjects:
Online Access:http://irep.iium.edu.my/15841/
http://irep.iium.edu.my/15841/1/muhammad_naim.pdf
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author Omar, Muhammad Naim
Arifin, Mahamad
Mohammad Napiah, Mohammad Deen
Abdullah, Mohamad Asmadi
author_facet Omar, Muhammad Naim
Arifin, Mahamad
Mohammad Napiah, Mohammad Deen
Abdullah, Mohamad Asmadi
author_sort Omar, Muhammad Naim
building IIUM Repository
collection Online Access
description Mutual consent is one of the important elements in Islamic law of contracts. However, the consent itself may be disrupted by defects that can affect parties to the ontracts. There are a number of vitiating factors that may have effect on the validity of contract such as tadlis, ikrah, ghubn etc. This article however seeks only to focus on the concept of ghubn and its effects on contracts. In doing so, the study will look into the meaning of ghubn, its classification as well as its effect on the consent of contracting parties. Juristic views of renowned school of Islamic laws will be consulted. On the issue of temporary practices, there are types of contract whereby, one of the contracting parties has no choice, but to agree to the prices as stipulated in terms and conditions imposed by the other party. In this case, even though the contracts are considered as legally valid by the presence of offer and acceptance (‘aqd), the question may arise whether what appears in the contracts really reflects the actual consents of the parties This issue will also be discussed in this paper, together with a few other related concepts, such as, talaqqi al-rukban, najash, khiyar ,mustarsil etc. It is found that in general, any party affected by ghubn may seek remedy through khiyar al-ghubn. In order to invoke this type of khiyar certain conditions must be fulfilled inter alia, the contracting party is ignorant of the market price and the ghubn is excessive.
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spelling iium-158412024-12-19T08:52:01Z http://irep.iium.edu.my/15841/ The implications of ghubn in islamic contracts : an analysis of current practices Omar, Muhammad Naim Arifin, Mahamad Mohammad Napiah, Mohammad Deen Abdullah, Mohamad Asmadi BP140 Islamic law (Fiqh) Mutual consent is one of the important elements in Islamic law of contracts. However, the consent itself may be disrupted by defects that can affect parties to the ontracts. There are a number of vitiating factors that may have effect on the validity of contract such as tadlis, ikrah, ghubn etc. This article however seeks only to focus on the concept of ghubn and its effects on contracts. In doing so, the study will look into the meaning of ghubn, its classification as well as its effect on the consent of contracting parties. Juristic views of renowned school of Islamic laws will be consulted. On the issue of temporary practices, there are types of contract whereby, one of the contracting parties has no choice, but to agree to the prices as stipulated in terms and conditions imposed by the other party. In this case, even though the contracts are considered as legally valid by the presence of offer and acceptance (‘aqd), the question may arise whether what appears in the contracts really reflects the actual consents of the parties This issue will also be discussed in this paper, together with a few other related concepts, such as, talaqqi al-rukban, najash, khiyar ,mustarsil etc. It is found that in general, any party affected by ghubn may seek remedy through khiyar al-ghubn. In order to invoke this type of khiyar certain conditions must be fulfilled inter alia, the contracting party is ignorant of the market price and the ghubn is excessive. American-Eurasian Network for Scientific Information (AENSI), Jordan 2011 Article PeerReviewed application/pdf en http://irep.iium.edu.my/15841/1/muhammad_naim.pdf Omar, Muhammad Naim and Arifin, Mahamad and Mohammad Napiah, Mohammad Deen and Abdullah, Mohamad Asmadi (2011) The implications of ghubn in islamic contracts : an analysis of current practices. Journal of Applied Sciences Research, 7 (13). pp. 2177-2181. ISSN 1819-544X http://aensionline.com/jasr/jasr/2011/2177-2181.pdf
spellingShingle BP140 Islamic law (Fiqh)
Omar, Muhammad Naim
Arifin, Mahamad
Mohammad Napiah, Mohammad Deen
Abdullah, Mohamad Asmadi
The implications of ghubn in islamic contracts : an analysis of current practices
title The implications of ghubn in islamic contracts : an analysis of current practices
title_full The implications of ghubn in islamic contracts : an analysis of current practices
title_fullStr The implications of ghubn in islamic contracts : an analysis of current practices
title_full_unstemmed The implications of ghubn in islamic contracts : an analysis of current practices
title_short The implications of ghubn in islamic contracts : an analysis of current practices
title_sort implications of ghubn in islamic contracts : an analysis of current practices
topic BP140 Islamic law (Fiqh)
url http://irep.iium.edu.my/15841/
http://irep.iium.edu.my/15841/
http://irep.iium.edu.my/15841/1/muhammad_naim.pdf