Buying and Selling: Ruling on the Binding Nature of De Facto Transactions Without Formal Contract

Practical Laws of Islam as per the teachings of Imam Khamenei

Buying and Selling: Ruling on the Binding Nature of De Facto Transactions Without Formal Contract

English:

Question #1460:

Is de facto transaction binding as the one which is done through utterance of the formula?

Answer #1460:

Insofar as their binding powers are concerned, both de facto transaction and that done through utterance of the formula are the same.

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