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MUQASAH - Coggle Diagram
MUQASAH
DEFINATION
Setting off a debt that is due to the debtor by a creditor who is at the same time indebted to the debtor with certain condition
Also means debt settlement by contra-transaction or set off and discharge of a debt receivable against debt payable
LEGALITY
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Hadith
Narrated by Ibn Umar as follows. " I came to Prophet and said that i sell camels in Baqi' for a price named in gold coin but i collected in silver and vice versa. The Prophet said "There is no harm to do so if the exchange is carried our according to the exchange rates of that day and as long as you part without any debts between you"
Type of Muqasah
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Contractual Set off
Discharge of 2 debts by the consent of the 2 parties to extinguish their obligations towards each other
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