whereas deferring the price is stipulated by the buyer.

For example, he sells him some goods for one hundred, and the buyer says, “I have nothing in hand at present, but I want the price to be deferred for one month.” If the sale is concluded on that basis, then the sale is valid and the stipulation is valid, because this does not contradict what the contract entails; rather, it makes it stronger and more secure. Moreover, there is no harm in it, since it may serve the buyer’s interest by allowing him greater financial latitude, and it may also serve the seller’s interest—for example, if he fears that someone may inform against him that he has money, resulting in the government imposing taxes on him, or that thieves may attack him. Thus, it may be in the interest of both the seller and the buyer. It may, however, not be in the buyer’s interest, for the buyer may prefer to hand over the price and be relieved of the matter.

His statement, “and deferring the price”: he did not state that the term of deferment must be known, but this is a condition. Thus, the term must be specified, such as saying, “until Ramadan,” or “until Dhu al-Hijjah,” and the like.

If he says, “For a deferred price until Zayd arrives,” is this permissible?

The answer is: No, because it is unknown; it is not known when he will arrive, nor is it known whether he will arrive at all. It is therefore an unknown term, so this stipulation is invalid.

If the buyer stipulates that the price be deferred until Allah grants him financial means, then according to the madhhab, this is not permissible, because the term is unknown. It is not known when Allah will grant him financial means: Allah may grant him means after an hour, if a wealthy relative dies and he inherits from him; or he may remain in hardship for years. Thus, according to the madhhab, this stipulation