Innovations in the Rules of Assumpsit and its Applications in Murabaha for the Purchaser

Abstract

Assumpsit is considered as one of the most important and main topics, due to its connection with many Islamic banking dealings nowadays. Various assumpsits in one product or contract, whether binding or not, is subject to the legal controls. The basic principle is that multiple assumpsits in one contract are permissible, as long as it does not lead to what is prohibited, or to what might result in what is prohibited; such as interest, risk, ignorance, selling what is not owned, exchanging debts for debts, not exchanging in the same setting, devouring the property of others illegally, and so on. This also includes if the two assumpsits are contradictory in rules and consequences, e.g. joining two different binding assumpsits together; as they have different conditions and rules, if that leads to a contradiction of obligations and consequences, similar to the case of multiple assumpsits in one place and at one time, while their rules are contradictory.

If the assumpsit binds one party, then what appears of its form is binding, and it carries the meaning of the contract in its general sense as an agreement, and if associated with approval it becomes a contract.

The preferable say goes with not permitting the commitment of the assumpsit at all in murabaha sale, especially if the binding is for the client, because a binding assumpsit is considered as a contract, thus, leading it to prohibitions.