The Legal Effects of Unfair Contracts of Sale in Islamic Law

Abstract

The research paper, in hand, is aimed to highlight the legal effects of the unfair contracts of sale in Islamic law of contract. In this regard, the concept of the contract of sale is thoroughly expounded with the help of views of the classical Muslim jurists and its legitimacy has been underpinned from the primary sources of Islamic law. The autonomy given to the contracting parties by Islamic law with regard to stipulating the terms while formulation of contract has been analyzed and it has been discussed whether such autonomy is absolute or restricted. In this context, implied terms those are automatically available have been pinpointed with special reference to their effects on the contracts. The question such as does Islamic law of contract recognize compensations when contractual terms are violated and whether or not Islamic law prescribes any time limitation for suites under the law of contract have been tackled in this article.