is verbal, is that when one of the two negotiating parties makes an offer of sale to the other, he is not bound by it and may retract it during the session, so long as the other has not accepted it. This is a plausible interpretation, but it does not accord with Mālik’s school; rather, it is the position of Muhammad ibn al-Hasan. The position consistent with the school is that whoever makes an offer of sale to the other party is bound by it if the other accepts during the session, and may not retract it before that acceptance. Another possible meaning and intended purpose of the hadith is that, so long as neither negotiating party has made an offer of sale to the other, the seller is not obliged to sell at the price he has asked, nor is the buyer obliged to purchase at the price he has offered during negotiations. Each may withdraw until the sale is concluded verbally. This accords with Mālik’s position in al-Mudawwanah.
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If the hadith is understood in this way, the exception in its wording, “except a sale subject to an option,” may be interpreted as explained above. Alternatively, it may mean that one party says to the other, “Choose to proceed or decline,” and the other chooses to proceed, thereby making the sale binding and ending the option of withdrawal. This accords with the wording transmitted in some reports: “Each of the two parties to a sale has the option of withdrawing from the transaction with the other so long as they have not separated, unless one says to the other, ‘Choose.’”
Al-Shāfiʿī and all those who understand the hadith according to its apparent meaning have relied on this wording. They hold that the two parties retain the option of withdrawal, even after concluding the sale verbally, so long as they have not physically separated. The first interpretation, however, is more evident, because when the term “option” is used without qualification in the revealed law, it is understood to establish an option, not to terminate it.
Some scholars hold that the separation intended is physical separation, but that it dissolves the contract and nullifies the commitment that one party has made to the other. This is a sound interpretation consistent with the school. Success comes from Allah, glorified and exalted.