Ruling of Mortgaging the Sold Item against Its Price

Abstract

 What a salesman cares about the most when he sells something for a delayed payment is writing down the contract so the debtor does not deny the contract or delay the payment. Mortgage is deemed among the most important registration contracts in Islamic jurisprudence. The debtor may have nothing to mortgage but the same item sold. This research sheds light on mortgaging the  sold item against its price by showing the difference between what is “mortgaged against its price” and other similar expressions. Moreover, it exhaustively groups the types of “mortgaged against its price” indicated by Islamic jurisprudence scholars and the provision of each type and whether it satisfies the required conditions of the “mortgaged against its own price.” This research also aims at answering the question of the permissibility of the seller or the purchaser to use or benefit from the item that is mortgaged against its price during the mortgage period and whether this affects the validity or mandatory of the mortgaged.