Al-bai‘ al-nafidh

Dictionary term

Definition of "Al-bai‘ al-nafidh"

A contract of sale that does not involve any right of the third party. It is of two types: lazim (binding) and ghair lazim (non-binding). The lazim is a contract of sale that has no options (to rescind) for any of the parties and the ghair lazim is a contract of sale that may have at least one option for any of the parties.

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