What is the basic definition of a transaction in Islam?
Stealing and selling items
Exchange of item without concent
Exchange of benefits through a valid contract(akad)
Lending without repayment
What is a key requirement for a valid sale contract in Islam?
Cheaps items
Rich seller
Offer the acceptance (ijab and qabul)
Unknown buyer
In an Islamic transaction, the seller must:
Hide defects of the product
Force the buyer to purchase
Cheat on pricing
Disclose product details honestly
A valid Islamic transaction must be free from:
Profit
Promotion
Riba (usury), fraud and uncertainty (gharar)
Low pricing
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