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Sunan Ibn Majah 2183 (Book 12, Hadith 47) #31535
Right to Annul a Transaction

SUMMARY: The two parties to a transaction have the right to annul it as long as they have not yet parted.

It was narrated from Samurah that the Messenger of Allah said: "The two parties to a transaction have the choice (of annulling it) so long as they have not yet parted".
حَدَّثَنَا مُحَمَّدُ بْنُ يَحْيَى، وَإِسْحَاقُ بْنُ مَنْصُورٍ، قَالاَ حَدَّثَنَا عَبْدُ الصَّمَدِ، حَدَّثَنَا شُعْبَةُ، عَنْ قَتَادَةَ، عَنِ الْحَسَنِ، عَنْ سَمُرَةَ، قَالَ قَالَ رَسُولُ اللَّهِ ـ ـ ‏ "‏ الْبَيِّعَانِ بِالْخِيَارِ مَا لَمْ يَتَفَرَّقَا

TOPICS
transaction  *  choice  *  parting

QUICK LESSONS:
Respect your customers/partners; Be fair; Be honest; Understand others' rights; Treat everyone equally; Follow business ethics

EXPLANATIONS:
This hadith explains that when two parties enter into a transaction, they both have the right to annul it so long as they haven't parted yet. This means that if either party changes their mind about the transaction before parting, then they can still cancel it without any consequences. This is an important lesson in business ethics and shows us how we should treat our customers and partners with respect and fairness. It also teaches us that we should always be honest in our dealings with others and never take advantage of them or try to manipulate them for our own gain.

The Prophet Muhammad ﷺ was known for his fairness in all his dealings, so this hadith serves as an example of how we should conduct ourselves when engaging in transactions with others. We must always remember that everyone has the right to change their mind about something before parting ways, so we must be understanding and respectful of this fact when dealing with others.

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