in his liability does not prevent the owner of the merchandise (1) from disposing of it. Hence the mukātib is harmed by a pledge but not by a guarantor, and a prospective borrower is harmed by pledging collateral before the loan is issued, yet he is not harmed by a guarantor.

Abū al-Maʿālī al-Juwaynī said: “It is not unlikely that the prize be held in abeyance; if one of the two competitors comes close to winning, his entitlement under the contract becomes clear. In that respect it resembles the guarantee of a warranty—except that this warranty may accept collateral because its term is short, unlike the seller’s warranty, which has no fixed term.”

Sub-issue:
If we say the contract is non-binding (jāʾiz), each of the two may annul it before the contest begins, by consensus. Should one of them wish to increase or reduce the stake, the other is under no obligation to accept; yet, if the two agree, it is permissible. If, however, we hold the contract to be binding (lāzim), neither party may rescind it unilaterally, though mutual cancellation is permissible, and by mutual agreement they may also increase or decrease the stake, whether they maintain the contract or dissolve it.

Sub-issue:
If they have already begun the contest, and neither of them has yet gained an advantage, each may still withdraw. But if an advantage becomes evident for one of them (2), such as when