Feasibility of estimating the amount traded with an approach to the rule of pride In Islamic religious jurisprudence

Document Type : Original Article

Authors

1 Associate Professor of University of Ayatollah Boroujerdi

2 Graduated of master. Ayatollah Boroujerdi University. Boroujerd. Iran

3 PhD student in private law. Bu Ali University. Hamedn. Iran.

Abstract

One of the essential conditions for the validity of contracts in Islamic jurisprudence is the clarity of the considerations involved. Accordingly, conventional methods—such as weighing, counting, and measuring—are employed to determine the consideration and the subject matter. However, it is sometimes observed in practice that estimation is used to ascertain the consideration value of the transaction. Following this customary behavior, certain transactions in legal and fiqhi sources, such as contracts, have emerged where the consideration value is determined by estimation. Due to the inherent risks associated with these contracts, particularly the inaccuracies in estimation, concerns regarding gharar (uncertainty in a precarious contract) arise. This study employs a descriptive-analytical method to thoroughly examine these transactions and some of their instances, assessing their validity or nullity under Islamic law. The findings suggest that, based on the principles of contractual freedom, the presumption of validity, the basis of reason, economic prudence, and the acceptance of a share of economic risk, transactions based on estimation should be considered valid in contexts where quantity value is not a fundamental attribute. However, for the validity of estimated transactions, it is essential that the estimation be clear, mutually agreed upon by the contracting parties, and conducted by knowledgeable individuals. In the absence of these conditions, estimated transactions should be deemed gharar and thus rendered invalid

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