Section Four
Loans and Debts
Al-Qard and Ad-Dayn
In jurisprudence, debt is: an owned asset that is owed by someone to another as a result of an action. Related to it is the loan, which is: giving ownership of an asset to someone else who will repay this asset either with a similar asset or its value.
A loan is different to a debt in that the former relates to things that are specified external assets or an unspecific item of a specified type of asset, and it is a transaction that is based on proposal and acceptance. A debt relates to an unspecified item of a specified type of asset owed to someone; it is neither a transaction nor a contract, but a connection between one party and the other resulting from different reasons, one of which is the loan transaction.
Contents:
Chapter 1: Loans
Chapter 2: Debt
(A) Postponement and its rulings
(B) Paying back the debt
C) Unilaterally-performed compensation
(D) Selling the debt
(E) Bankruptcy (iflās)
Section Four
Loans and Debts
Al-Qard and Ad-Dayn
In jurisprudence, debt is: an owned asset that is owed by someone to another as a result of an action. Related to it is the loan, which is: giving ownership of an asset to someone else who will repay this asset either with a similar asset or its value.
A loan is different to a debt in that the former relates to things that are specified external assets or an unspecific item of a specified type of asset, and it is a transaction that is based on proposal and acceptance. A debt relates to an unspecified item of a specified type of asset owed to someone; it is neither a transaction nor a contract, but a connection between one party and the other resulting from different reasons, one of which is the loan transaction.
Contents:
Chapter 1: Loans
Chapter 2: Debt
(A) Postponement and its rulings
(B) Paying back the debt
C) Unilaterally-performed compensation
(D) Selling the debt
(E) Bankruptcy (iflās)