Just as entering into business deals is guided by the Shariah, the guideline for bringing that deal to an end is also stated in the Shariah and they are as follows:
Both the seller and buyer have the choice to confirm or cancel the deal as long as they have not separated from the place of the deal.
Each of them has the option to continue the transaction or cancel it. This is due to the Prophet's statement:
"Both parties in a business transaction have the right to accept or reject the deal as long as they have not separated. If they tell the truth and make everything clear to each other, their transaction is blessed. If they conceal anything and lie to each other, the blessing of their transaction will be eliminated" (Muslim, Bukhari)
If one of the two parties makes a condition for a fixed time to allow the option to accept or reject the deal and they agree to that, then both of them hold the option to accept or reject the deal until the term expires. If the term expires, the transaction continues as valid. This is due to the Prophet's statement:
"Muslims are bound to their contractual conditions." (Abu Dawud, Hakim)
If one of them cheats the other with cruel cheating. This is when the cheating is obvious to the buyer and it is not agreeable to him. An example would be when the seller tries to sell something that is known to be worth ten for fifteen or twenty. In such a case the buyer has the right to cancel the deal or pay a known market price. This is due to the Prophet’s statement to a man who used to be cheated in buying due to his being feeble minded: "When you make bargain say: 'No deception.” (Bukhari, Muslim)
Whenever it becomes clear that a person has been cheated, he returns to the seller and demands that the excessive amount (price) be return to him or the deal may be cancelled.
If the seller swindles in the merchandise by making its beauty visible and concealing its defect, or making its quality apparent and hiding its problems or collecting the milk in the udder of the sheep then the buyer has the right to cancel or confirm the deal. Allaah's Messenger said:
"Do not tie up the udders of camel and goats, for he who buys them after that (has been done) has two choices open to him after milking them. If he wishes, he may keep them or he may return them along with one Sa' of dates." (Bukhari, Muslim)
What if any deficiency is found in the sold goods that decreases its value and the buyer was not aware of it, and he was satisfied at the time of bargaining? In this case the buyer has the right to either confirm the deal or cancel it. This is due to the Prophet's statement: "It is not allowed for a Muslim to sell to his brother some goods which are defective except that he explains (or reveals) it to him." (Ahmad. Ibn Majah). And his statement in the Saheeh: "Whoever cheats us is not one of us."
If the seller and buyer dispute about the amount of the value or the description of the goods, each one of them will swear by oath to the other. Thereafter, both have the right to confirm or cancel the deal. This is due to what has been reported in a Hadith:
"When the seller and buyer disagree, and the goods are existing and neither of them have any proof, both of them should swear by an oath." (Haakim)
This article was culled from the publications of Deen Communication Limited