Judicial and Lawful Study on Contract Nature of Istesna

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Abstract

                       Istensna contract is a recommendation for the particular object that results in agreement between the producer and the client. There are differences in nature of this contract among jurists and lawyers. Despite the different opinions, it can be believed that Istesna is an independent contract and because object of sale does not exist in time of conclusion of contract and exists after some time in the future, there will be a conditional contract. The present article analyses recent viewpoint about Istesna out, and in case they are ignorant of the object of transaction, i.e., of what they are going to sell or buy, the transaction of this kind is hazardous, and thus invalid and prohibited by the Islamic Law. In the prophetic hadith we read: “the Messenger of Allah [Prophet Muhammad], may peace be upon him, prohibited a transaction that is hazardous.”      

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