CASES WHERE KHIYĀR AL-MAJLIS IS NULLIFIED (aside from physical separation):

1. Express Waiver During the Meeting: Either party may explicitly state during the meeting, "I waive my right to khiyār al-majlis," thus nullifying their right. This must be a clear and voluntary declaration. The other parties right to Khiyār remains intact until they separate. 2. Mutual Agreement to Waive Khiyār: If, during the contract negotiation, both parties agree to waive the right of khiyār al-majlis by stating explicitly, "There is no option of retraction between us," this nullifies the right. This is valid as long as both parties willingly agree. 3. Customary Practices Nullify Khiyār: In certain transactions, common practice or norms override the right to khiyār Al-Majlis. - Online purchases: Once payment is made, such as by entering credit card details or confirming the purchase, the right to khiyār Al-majlis is considered void. - Issuance of receipts: When a receipt is printed or generated after confirming a purchase, the transaction becomes binding unless a defect is found in the item. NOTE: Khiyār Al-Majlis renders the contract جائز (non-binding), but once khiyār Al-Majlis is nullified by any of the above scenarios, the contract becomes لازم (binding/irrevocable). BENEFIT: Khiyar Al-Majlis is applicable if the contract is لازم من الطرفين ويُقصد به العوض [binding on both sides with the aim of mutual exchange] - This applies with: 1. Sale agreements (البيع) 2. Settlement agreements (الصلح) that resemble sales. 3. Lease agreements (الإجارة) 4. Currency Exchange (الصرف): This involves the exchange of one type of currency for another and requires immediate settlement. _____ 2️⃣. خيار الشرط Conditional option This is an option stipulated within the contract, or during خيار المجلس granting one or both parties the right to revoke the contract within a SPECIFIED time period. If the stipulated period ends without the contract being revoked, it becomes binding/irrevocable. Example: A man purchases a car from another and agrees with the seller that he has the option to withdraw within one month. If the buyer decides to withdraw during the month, he may do so. However, if the month ends without revocation, the purchase becomes binding upon him. DEADLINE FOR خيار الشرط: - A fixed duration مدة معلومة: For example, five days, ten days, a month, or two months (as agreed). - Occurrence of a specific event أجل: For example, “until the arrival of so-and-so” or “until tomorrow.” NOTE: Although the deadline can be short or long, it must not exceed customary limits or lead to harm. If the period leads to harm (such as the item of sale going out of date during that period) or used as a pretext for prohibited practices, it becomes invalid. NOTE: Certain practices exploit the flexibility of conditional options to achieve impermissible outcomes. For example: A seller borrows money (e.g., £1000) and "sells" their car with a one-year option to repurchase it. The buyer uses the car for a year, and the seller eventually repays the loan, retrieving their car. In reality, this is not a genuine sale but a disguised loan where the buyer benefits from the asset during the loan period. This is not permissible because ((كل قرض جر نفعا فهو ربا)) "Every loan that brings a benefit is considered riba." ANOTHER COMMON EXAMPLE: A buyer approaches the bank, asking it to purchase a specific property. The buyer commits to purchasing the property from the bank at a markup. For example, the bank buys the property for £100,000 and sells it to the buyer for £150,000, specifying the profit margin. To mitigate risk, the bank negotiates with the original seller and inserts a خيار الشرط into the contract. This clause allows the bank to return the property within a specific period (e.g., one month) if the buyer fails to proceed with the purchase. If the buyer fulfills the agreement, the bank finalises the sale with the original seller. If the buyer retracts, the bank exercises its خيار الشرط and cancels its purchase with the seller.