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The estate of the bankrupt must be unable to satisfy his debts; this condition is drawn from the very legal meaning of the term muflis (bankrupt).
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The article itself must still be in the buyer’s possession; this is the explicit wording of the ḥadith before us and others like it.
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The price must not have been collected from the purchaser. If the seller has received all or part of the price, he may no longer repossess the article. This requirement is taken from certain versions of the aḥādīth, as well as from their underlying intent.
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The general wording of the ḥadith indicates that even if the creditors offer the seller the price of his merchandise, his right to reclaim the very article is not thereby nullified.
I say: In light of the Lawgiver’s aim—namely, safeguarding the seller’s right—we should oblige him to accept the price at which he sold the goods when the creditors tender it, especially if doing so benefits the body of creditors and the bankrupt himself, whose debts the Law seeks to alleviate.
Ibn Rushd said: The commodity is to be appraised. If its value equals or is less than the sale price, it is awarded to the seller; if it is worth more, he is given the amount of the price and the creditors share the remainder. A number of tradition-scholars have adopted this view.
Shaykh ʿAbd al-Raḥmān al-Saʿdī, however, maintained that once the seller obtains the price of his goods by any means whatsoever, he is no longer entitled to take them back, for the Lawgiver granted him that privilege only to prevent the loss of his wealth; thus the legal rationale prevails.
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The commodity must remain intact: none of it has perished, nor have its characteristics been altered so as to change its very name—for example, yarn woven into cloth, grain baked into bread, or timber fashioned into a door. Should its attributes change, or part of it be destroyed, the owner is treated like any other creditor.
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No right of pre-emption (shufʿah) or pledge (rahn) may be attached to the item; a fortiori, it must not have been sold, or