Please enable JavaScript.
Coggle requires JavaScript to display documents.
MUQASSAH - Coggle Diagram
MUQASSAH
DEFINITION
:red_flag: 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 conditions. (Al-Dardir)
:red_flag: as the clearance of a debt which is due with a debt similar in nature and character. (Ibn al-Qayyim)
:red_flag: refers to debt settlement by a contra transaction or set-off. It is also means the discharge of a debt receivable against a debt payable.
TYPES OF MUQASSAH
:smiley: Mandatory set-off (al-muqassah al-jabariyyah): mandatory set-off is spontaneous discharge of two debts that is not contingent on the consent of both or either party.
conditions:-
-
:check: both debts should be equal in kind, description and maturity
-
-
:smiley: Mandatory set-off on demand (al-muqassah al-talabiyyah): affected by demand of one of the parties to discharge the debts by way of set-off
conditions:-
-
:check: the creditor for the superior debt in terms of quality & duration should consent to relinquish his additional right
-
-
:smiley: Contractual set-off (al-muqassah al-ittifaqiyyah): discharge of two debts by the consent of two parties to extinguish their obligations towards each other.
-