PREPARED BY: MOULANA SHOAYB JOOSUB

• QURAN- SURAH MA`IDA“ OH BELIEVER FULFILL YOUR

CONTRACTS”

• HADITH: PRACTICED AND APPROVED

• LITERAL:“TO JOIN EDGES”

• SHARIAH:“A SHARIAH AGREEMENT BETWEEN

PARTIES, FROM WHICH RIGHTS AND DUTIES FLOW”

• THE PARTIES CONSENT TO EACH OTHERS INTENTIONS (HANAFI)

• MAJORITY OF THE SCHOLARS:- CONTRACTING PARTIES- SUBJECT MATTER- CONSENT

• Consent comprises of an offer and acceptance. The consent takes effect upon the contracting parties consensus. The Four famous Jurist differ on who is the offeror and the accepter.

• The rights and duties flowing from a contract are segregated in four catogeries, namely:

        Terminology of the contract        The contracting Parties        The place of the contract        The subject matter of the contract

• The terminology used by the contracting parties must imply the parties intention to conclude transaction whether the terminology is explicit or such terminology that is exercised in the market place. This can be done in writing, orally or by mere gesture.

• The conditions of the terminology are three, which are:• 1)       The consent to the contract must be very clear and free

from vague language or ambiguity.• 2)       The acceptance must confirm with the contents of the

offer• 3)       The acceptance must be within the same conversation 

• The contracting parties must have the capacity to contract. There are two types of capacity:

• a)       Full Capacity • b)      Limited Capacity

• a)       Insanity• b)      Demented mind• c)       Unconscious• d)      Sleep• e)      Intoxicated• f)         Incompetent (stupid)• g)      Insolvent• h)       Death illness• A person that is ceased from contracting can be represented by

his official guardian. The official guardian shall act on his behalf in commercial matters and in his responsibilities.

• There are four conditions attributed to the subject matter:

• a)       The subject matter must be existing• b)      The subject matter must be acceptable in Shariah

(Maal Mutaqawwam)• c)       The subject matter must be deliverable• d)      The subject matter must be stipulated and

ascertained.

• The outcome of the contract is the purpose for concluding the contract. The outcome of the contract is according to the rules stipulated in shariah regarding the form and type of contract concluded.

• There are four types of contract:• 1)       An concluded contract• 2)       A valid contract• 3)       An executable contract• 4)       A binding contract

• The conditions as mentioned above regarding the terminology, the contracting parties, the subject matter and the purpose.

• Adding to the conditions are: • a)       The contract must not be prohibited in Shariah• b)      The contract must have a benefit o purpose

• The contract must be free from:• a)       Uncertainty• b)      Duress• c)       Impermissible conditions• d)      Harm/loss• e)      Non disclosure• f)         Contract based on time

• • a)       The contracting parties must have

ownership of the subject matter• b)      The contracting parties must have the

capacity to contract

• The contracting parties must not have the choice to cancel the transaction

• If one of the parties does not perform in terms of the contract it constitutes breach of contract. There are various types of breach and the remedy for each type of breach is different for different types of transactions and breaches.

• a)       Death• b)      Effluxion of time• c)       Completion of contract• d)      Cancellation• e)      Loss of capacity• f)         Revoked by the guardian

Objective

• State the desired objective• Use multiple points if necessary

Customer Requirements

• Confirm the audience’s needs if you are not sure

• State the needs of the audienceCustomer

Satisfaction

Quality Value

Service

Meeting the Needs

• List the products and features, and how each addresses a specific need or solves a specific problem

• This section may require multiple slides

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Cost Analysis

• Point out financial benefits to the customer

• Compare cost-benefits between you and your competitors

Our Strengths

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Key Benefits

• Summarize the key benefits provided by the product, service, or idea being promoted

Next Steps

• Specify the actions required of your audience