Buying and Selling: Ruling on Disputed Final Price After Provisional Sale Agreement

Practical Laws of Islam as per the teachings of Imam Khamenei

Buying and Selling: Ruling on Disputed Final Price After Provisional Sale Agreement

English:

Question #1575:

I concluded a deal with the management of a stone quarry to buy a given consignment of stones for a provisional price. It was agreed that the final price was to be determined at a later date, albeit with a slight variation from the quoted price. Later on, I was asked to pay a highly inflated price for the consignment. Noting that I had sold the stones, I refused to pay. How should I go about settling this matter?

Answer #1575:

One of the conditions for the validity of the sale is designating both the thing sold and its price. This is so as to avoid lack of knowledge and any unforeseen risk. So, if the sale did not go through at the day of taking delivery of the goods in a proper and shar‘ī manner, the buyer is liable to pay the going price, i.e. at the time he cut and resold the stones.

-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Buying and Selling