Buying and Selling: Ruling on Revoking a Sale Due to Unfair Pricing (Ghubn)

Practical Laws of Islam as per the teachings of Imam Khamenei

Buying and Selling: Ruling on Revoking a Sale Due to Unfair Pricing (Ghubn)

English:

Question #1546:

I sold a piece of land. When I told a friend of mine the price I sold it for, he told me that I had been aggrieved. Does this entitle me to the right of revocation of the deal due to unfairness?

Answer #1546:

You have no such a right unless it is proven that you sold the land at an unacceptably low price, i.e. much lower than that of the market value of the land, at the time of sale, and that you were unaware of its real value.

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