His statement: “The first is the option of the session.” This is an attributive construction in which a thing is ascribed to its place. A session is a place for sitting, but what is meant here is the place where the transaction is concluded. Thus, even if the contract is concluded while the two parties are standing, or while they are lying down, they retain this option, and it is still called the option of the session, because what is intended by “session” is the place of transaction, not sitting in particular.

It is established in sales, settlements having the meaning of a sale, leases, currency exchange, and advance-payment sales, but not in other contracts.

His statement: “It is established in sales,” meaning for the seller and the buyer.

The evidence for this is the Prophet’s saying: “The two parties to a sale retain the option so long as they have not separated.” (1) And his saying: “When two men enter into a sale, each of them retains the option so long as they have not separated and are together, unless one of them gives the other the option. If one gives the other the option and they conclude the sale on that basis, then the sale becomes binding.” (2)

The word “so long as” here indicates a temporal verbal noun; that is, throughout the period in which they have not separated. His saying, “and are together,” further confirms that they have not separated. It also yields a practical ruling: if two men conduct a sale by telephone, there is no such option in that case. As soon as one says, “I have sold,” and the other says, “I have bought,” the sale becomes binding.

The three imams adopted the apparent meaning of this hadith and held that the option of the session is established. Malik said that what is meant is separation in speech, and that once the contract has been completed, there is no option of the session, because separation in speech occurs through acceptance