4 the sale must be instant and absolute thus a sale

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and liabilities of the commodity are passed on to him including the risk of its destruction. 4. The sale must be instant and absolute. Thus a sale attributed to a future date or a sale contingent on a future event is void. For example, 'A' tells 'B' on 1st January 2008 that he will sell his car on 1st February 2008 to 'B', the sale is void because it is attributed to a future date. 5. The subject matter should be a property having value. Thus goods having no value cannot be sold or purchased. 6. The subject matter of sale should not be a thing used for an un-Islamic purpose. 7. The subject matter of sale must be specifically known and identified to the buyer. For Example, “A” owner of an apartment says to “B” that he will sell an apartment to 'B'. Now the sale is void because the apartment to be sold is not specifically mentioned or identified to the buyer. 8. The delivery of the sold commodity to the buyer must be certain and should not depend on a contingency or chance. 9. The certainty of price is a necessary condition for the validity of the sale. If the price is uncertain, the sale is void. 10. The sale must be unconditional. A conditional sale is invalid unless the condition is recognized as a part of the transaction according to the usage of trade. Excerpt from FAQs published by IBD, SBP and available at http://www.sbp.org.pk/departments/ibd/FAQs.pdf
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