Channel: Isam Rajab
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welcome to the class.
Today inshallah we'll start with the Bankruptcy
Law service from
law give us
enough wealth inshallah. Who's the bankrupt?
Yeah, that's, that's on the Day of Judgment. That's the true bankrupt, but here when we talk about it in fact, yes.
The person who has no money that's the bankrupt, is that correct?
Well, in the same Hadith when the prophet SAW, Selim said, Who's the bankrupt, what did the companions say? The bankrupt is the one who has no money, just like what Olivia said. So that's correct. That's one,
one type of bankruptcy. However, we're not worried about that person.
If he has no money, that's fine. Why? Because there are no rights or obligations.
Related to that. We're worried when there are others rights
attached to this situation.
So if the bankrupt has no money, that's fine. But when we have a problem, when he owes people money, when he has when he is in debt, and he cannot pay back, that's when
we deal with this issue. That's when we
talk about the bankruptcy. So the bankruptcy happens when a creditor asks for his money, or when the debtor is asked to pay off his debts. And he cannot.
That's when he's considered bankrupt.
You agreed to pay $2,000 to someone
on the first of January,
he came to you on the fifth of December, and he said, pay me the $2,000. And you told him I have only $10. Are you bankrupt?
The date is not due yet. He came on January 20. And he said pay me back the $2,000 and you said I don't have money? Are you bankrupt? Yes.
You're not actually still bankrupt? Because he may say okay, I will wait for one more month.
But he said no, I need my money. Now, then you are what?
You are bankrupt.
Especially when the judge issues this.
We cannot judge people and say you are bankrupt, you are not. It is the judge's decision.
If you ask for your money to pay it back
the data refused, here, there are two cases.
it is indeed he has no money. So he is truly bankrupt.
Or he has money, but he is not paying
you he owes you $2,000 he says I have only $100. But yesterday, he purchased something for $500.
So what do we do in this case?
In the first case, there is no problem.
His actions, financial transactions will be seized. But in the second case, if we are not sure he has money or not, he is imprisoned.
He is in prison. The judge
what why he is in prison?
Because he's bankrupt?
No. Because of what? Yes.
To make sure that he has no money.
We need to make sure that he has no money.
If we are sure that he has no money, can we
put this person in jail? No.
If there is more than one creditor
now if there is one creditor
The matter is easy. Why? You gave him $2,000. He said I don't have and you want your money. The judge came, his items were seized. They sold the accessories and they came up to 1500
They gave you the 1500. That's a lot you take. But what if there are three creditors?
One creditor gave $1,000, another creditor gave $2,000 a third the creditor gave 15 $100.
That's total of
or 440 500.
Now we came and we found out he had only $3,000. So what do we do? Do we give the first creditor, the 1000? And the second creditor, the 2000? And we say to the third creditor, we're sorry.
We have nothing left. What do we do?
All of them share the loss, according to the percentage. So if we say there are only $3,000, but he owes 4500. So we divide the loss on
the three of them.
compared to 440 500,
It is almost 30% less, it is almost 30% less. So we give everyone 30% plus the one who gave $1,000 how much he takes
700 700. The one who gave Who? Who gave $2,000, how much he takes 1400.
And the one who gave 1500?
How much he gets
1100 50 or so we could look, we'll calculate it and it is 4500.
Is this clear? Is this clear?
It has to be fair, that's islamically. But Is this clear? Fine.
What? If someone gave him money? $2,000.
Another one gave him golden bar.
This golden bar is
Not half kilogram, let's say it is two ounces. How much is the ounce approximately? 700. So this is 15 $100. But it is not cash. It is what?
So now we have what? We have 2000 and we have
It's the same, it did not change.
The due date came.
And those two creditors asked for their money to be paid
$2,000 and 1600.
Now the guy said I only have
cash. But the golden bar is still there. I did not sell it.
What do we do? Do we sell the golden bar? And they both share the loss by 10% each?
Why? Who or who owns the golden bar?
At this bar at this point? It doesn't matter.
You gave him the golden bar.
You found it. You found it by itself. You get it back.
So now who who? Who's in loss? Only that one.
And even nowadays, they call it What?
If you find your own money, then you deserve it. You get it back. There is a difference between finding the value or the amount of your money or your commodity and finding it by yourself.
And it is canceled now because of bankruptcy. He doesn't own it anymore.
So if you find it, itself, you take it.
Yes, yes. Because it's yours.
It became yours again. What if there were five creditors
and each one gave $1,000 except for the last one.
He gave a laptop
and that laptop is $1,000. Now they are all
or the total debt is approximately $5,000. They came after
one year when the time is due. And
the guy had to pay them back $5,000 1000 each.
But he said
I have only $3,000. But the laptop is still
it's not, it's not used. It's still as is. So the guy takes his laptop and the remaining $3,000 is divided for four people for the four people. And each one shares the loss. The last one he got his his thing back. Okay, that's the case with bankruptcy.
Here's a question.
Now we're done with
the bankruptcy and unhedged suspension of
Because remember, bankruptcy was related to that issue. How many types of people just to remind you how many types of people they are not allowed to do business transactions? How many? Don't? Tell me how many?
shaza says fine.
Hashem says six.
Who bids more?
Six. It is on the page. It is six. That was last week, please, please do study.
Okay, now we're going back to the transactions selling and buying. If the buyer didn't have the merchandise in his possession,
and the merchandise is lost, who will be liable for this loss?
The buyer? I agreed with you, you have a nice car. I liked it. And I told you I will pay for it. $10,000.
And you agreed, right? So I gave you the money. And you said
the car is yours.
Come and take it.
I told you when should I come? You said at six o'clock?
Someone broke in and they stole the car.
I came at six o'clock.
Where's the car?
So I tell you, fine, I need my money. You say no. I told you to come and take the car.
I did not steal it. It was stolen. Someone broke in I did not do anything wrong.
The seller Why?
What is deception? Did he deceive the buyer?
Why did I pay my money for what?
For a car? Did I get it? Until I get it?
I'm not responsible. Who's responsible? The seller Unless Unless I say you don't have to deliver.
Which means by the time I give you the money or by the time the transaction is done,
the sale the selling is finalized. So now it doesn't matter who's in possession of that merchandise or that commodity? But in general, whoever buys something, he doesn't own it until he takes possession which means if he did not possess it
and it was destroyed, who was liable for it? The seller?
Is this clear?
Okay, if the buyer and the seller disputed about the price
What do we do?
I told you, I like this car. You said fine, I will sell it for you. I said, I will pay $6,000
you said, No. $7,000 I said, Okay $7,000
then I gave you $6,000.
And I said, we agreed on $6,000. Or I said, I told you, I will pay only $6,000. And you agreed?
What do we do?
We don't know.
someone, someone came to you. Someone came to two people. I am Hashem. Hashem said to you, I gave him the car for $7,000. And he paid me only six. And I told you, I gave him $6,000. Because that's what we agreed on. What do you do? It's my word against his word.
He is saying $7,000. And I'm telling you, he said only six and I gave him the six he changed his mind.
That's the problem. There is a contract, the contract was variable. Now remember, the written contract is only a documentation. But the real contract one, it's it happens
when we agree. So
Yeah, there is a dispute here. And we want you to solve it. So what do you say?
I have to pay 7000. So it is the sellers worth?
You will take the car back, and I'll get the money. So that's that's the sellers word because I want I want the car.
But I want it for six and you're saying no, it is seven.
We agreed, but I agreed on six agreed on seven
there is no sale.
What was the transfer the money and there was no sale done? He still has his money.
No know. Let's say I give the 6000.
So he has a $6,000. More Yes.
And he thought I will give him 1000 more. What is the question? The question is who whose word is?
The sale buys by the way the sale is complete. When the sale is completed. When we say I accept and you you you agree. Now all these things finalization of the sale only because you cannot come again and say I changed my mind. And I will not sell the car anymore. After the promise that's that's an Islamic
even though the car is still yours. So the sale is finalized. So that's what happened. You have something to say.
That's the that's that's the dispute. If we agreed then there is no problem but when there is a problem when two people come to you, each one saying something different. Who you go with.
So they they they are given their stuff back. Yes. So basically it is the sellers word. Why? Because the buyer he wanted what? He wanted the commodity or the merchandise they did not want his money.
he will have his money back. If the seller insisted and he said no, I want $7,000
Yes, so that's that's what will happen. There is a process first of all, each one will be asked to swear to Allah subhanaw taala
Do you swear to Allah that you agreed on $7,000? If you say no, I will not swear.
I I am sure that we agreed on $7,000 but I don't swear, then the car is given to the buyer for $6,000 and you have to agree if both of them swore to Allah subhanaw taala that he agreed on six and you agree on seven, then
the cell is terminated. You get your car back and I get my money. Is this clear?
This may happen.
So you need to know what to do.
To be honest, I mean, yeah, it could be a mistake. That's exactly we're not talking about someone who's doing it on purpose. Because that's Allah subhanaw taala will take care of, but if it happened, if it happened, like there was a problem, miscommunication for any reason. So that's what we do.
Of course, the the the,
the sooner the messengers assume that's what the law says in the Quran, that they enter the den in a ledger in muscleman, factorable.
No, now another issue, settlement.
Settlement? What do you mean by that?
I owe you $10,000.
You gave me $10,000.
And you want it back?
I have only five.
And you said, Fine, five, five, I want the money. And you took the five.
Is that permissible?
you came and you said
you owe me $10,000? And I said, Yeah, that's true. But I don't have any money. Instead, I have this car.
And this car, the market value for it is $9,000.
And you say, Fine, I'll take the car.
Yes, doesn't have the money anymore. Yeah, that's what we mean by settlement. There are two types of settlement. First is called a bra.
or what we call absolution a bra.
A bra means agreeing on agreeing on
And Maraba exchange
Maota when I take something else, other than what we agreed on, originally.
could it happen? Yes, it happened. It happened with you.
More than anything? Yeah. Again, satisfaction.
But the problem between the western or the, the secular ruling, and the Islamic ruling is, and the Islamic, you cannot lie and say I don't have money while you have.
It is between you and the last time you cannot say I thought it is six, while you know it is seven, and you come and say there is no contract. So I could do whatever I want. You will be held for the words you say.
someone came and said, I have no money. You want to wait fine. And you say no, I cannot wait. Whatever you have, I will take
I owe you seven, and I have only five and you say fine. I'll take five and we agreed. Can I come back later? Or can you come back later and say I still need the two more? No, because it was a three came settlement?
Or exchange again?
Sometimes I say fine. I don't want my money back. I want something else. I saw something with you. I like and I said I will take this and you agree. That's also fine.
Some someone all the money
to jobs for a person. And then he owed me a lot of money. And then he said at the time to pay. He said I don't have the money to buy. But I said well, how much do you have?
He said he volunteered. He said I have this car that's worth that much money. Would you take it plus what I have? Yeah. So I actually you had no choice. I almost broke even I lost maybe maybe 1000 or $2,000.
Yeah, yeah, it happens.
But no, what you are taking is something else other than what you give. That's why it's exchange.
Confession. Another thing, a crop, we call it a crop. The first one was settlement. So we agreed here a crop.
What do you mean by Accra?
I all your money.
You gave me $10,000. But the mistake you made, there were no witnesses, and we did not try it.
Or I don't remember, you said you gave me $10,000. I said, I don't remember. I'm sorry.
I don't remember.
So now, what happened to your 10,000?
But then one day I came, and I checked my
my account book, my bank statement, and I saw that there were $10,000 deposited on that day that you are saying. So I came and I said,
I admit that I owe you $10,000.
This is called what?
Accra confession. But then I came two days later. And I said, You know, I was mistaken. I don't owe you anything.
Or another form.
I go to the judge. And I tell him, I want
I want you to punish me, because I drank alcohol.
And he brought the soldier
the person in charge the officer with the big stick, and I looked at it and I said no, no, I was I was wrong. And I ran.
That's again confession. Right?
Can I take back my word?
Well, there's two opinions, two opinions. The first one is, I believe them when he said the first one. I should believe him when he said the second one. The second one is if he said the first one and he was sure of it.
And I have to get approved from him that he didn't actually, well. Here's the thing, why we call it confession because the only thing you have is what is worth, you don't have any evidence. That's his word.
So can he changes word?
We're talking now only logic but we have evidences. When the woman came to the messenger salon. And she said O Messenger of Allah purify me, I committed Zina.
What did he say?
Yeah, what did he say?
He told her to go back. First of all, he did not say that he said, Fear Allah subhanaw taala go back without anything. She insisted and came. And he told her go back. What does that mean? That means if she went back and the matter was not mentioned.
That's it. So, they they derived from this ruling that if you confess
you can you can take back your word, but in the first form,
when it is related to other people's rights,
you cannot take back your vote.
Because once you admit that I owe you,
there is right now here, you need your money. I cannot come and say no, I was wrong.
It is possible if you have any evidence. But if it's only your word, and you admitted then you cannot take it back.
So again, a car also is divided into two types
of right or confession of right between the servant and Allah subhanaw taala. And of course, obviously, here you can take you can take back your world
and the cloud among people.
Again, why you cannot take back because the person himself already claiming that you owe him and at the beginning you said no. But now you said yes. So now it's not only your word, but also his word. So you cannot take back your word.
is this clear?
Next, how Allah or transfer
we mean by that moving the debt
from one person to another
that's the hawala
I owe you money.
But I owe him money. Also. He owes me money. You're coming and asking for your money. So I told you look, I owe that man. So instead of coming in asking me go and ask him,
so I transferred the debt
from me to him.
Even now, there are money transfer, what's the reality of it? money transfer. Instead of you asking the bank, you go and ask the bank that you transfer the money to? That's that's the same thing.
Is it permissible for me to tell you don't come again go to him and take his money?
You owe me 1000 and I owe him 1000.
So, I come to you every time.
But you said now go to him instead of coming to me.
Is this permissible?
Yes, with conditions
which other person?
Okay, like I owe his sham.
And Sham is coming and asking me Hashem
I gave him 1000. So I'm going and asking, so now I tell his Sham don't come to me again go to him.
What are the conditions?
Yes. Does Hashem have to agree?
Can he Sham go to Hashem
straight and tell him
I owe him
and he knows that he owes me so he goes directly to him.
I have to agree.
Can I tell you you go there?
No, and you don't want to go?
first one the approval of the debtor
was the debtor
the one that is
asked to pay back and the approval of the creditor
and the agreement
What do you mean by the agreement?
job and caboodle
and the similarity of the debt
imagine I owe you $2,000
and a sham
wants from me
or I want from his Sham
So, you come and you ask for you $2,000 and I tell you go and take from him the car
that's not permissible. Why? Because there is difference. It has to be similar. It has to be at the same time
gold to silver.
Oh the same value you mean like one kilogram of silver instead of 20 grams of gold? Yeah.
Because again we say the similarity This is one of the similarities
kafala another thing or surety
or we could say sponsorship, or there are many times
I'll have enough enough's aka fallible man. There are two types.
I sponsor this man
in his body or in something he did, or I sponsor him in the wealth or the property.
What we call fallible by then and fallible or infallible, fallible man
These are two types.
You go to a place, you purchase a car.
But they say we need the sponsor. We need Kafeel. So I come with you and I say I sponsor him.
Next month, they asked you for the payment and you don't pay. Can they come and ask me to pay?
Of course, because what?
Because I am
I guaranteed that you will pay. So if you don't pay, they have to come after me.
did not pray.
Can you go and say, I will pray on his behalf?
Of course he's alive. He's not praying.
You don't want to pray to her. So I say I will pray for her twice. One for me and one for you.
Is this permissible? No.
or killed. Someone killed a man.
So the judge came with the witnesses and they said this is the killer. So they wanted to kill him. But he said give me one day. I want to go to tell my family.
And you say no, we don't know you're a few when you will run away, you have to be killed.
So I come in and say I will sponsor him let him go and I am in his place.
Is this permissible?
Why if he did not come What if he did not come? Can they kill me?
I did not kill right who killed?
The one who? Who left? Yes.
Allah says what?
Solomon Pharisees, what about him?
What did she say?
It is permissible to be liable for others financial or personal obligations.
If it's obligation to Allah subhanaw taala then you cannot be responsible.
If someone did not pray, and you say I will pray.
Someone is punished in Hellfire and you say I will be punished instead of him. But
someone said I cannot pay and you say I will pay instead of him. Or in the example I gave you.
Yes, you can be sponsored. Someone killed.
The right of killing pretends to home?
No, not to Allah.
If the family said we forgive him, can the judge say I will kill him anyway?
It is the right of home. family. And it is related to what? To the body of that person to his life. So someone can come and say I am sponsoring him.
Yes, you can. And it happened at the time of Omar Abdullah when
it happened. Someone killed and he was brought to justice Toma Dillon, but he said by Allah, my family is away and they don't know. I did not mean to kill him. But if you want to kill me anyway, give me
three days. Amara refused one of the companions volunteers that is and he said, I volunteer. And I told him if he doesn't come you will be killed. And he said yes. So the man went for three days. And he came he came back
Yeah, he came back a little bit late. Almost. Yes.
It's very confusing. Why it's not confusing.
If the right pretends to someone,
not Allah subhanaw taala you can sponsor it.
Because now the family what they want what?
They want to kill that man.
They lost a life so they want the life to be lost. It doesn't matter was it the life of that person or the life of another person? It's not your business. You want your father's killer to be killed
so he can be killed.
However, in this
same example if someone was supposed to be killed because he apostates Can someone come and say I want to be killed instead of him it is a rite of Allah you cannot
you cannot intervene in this
forget about it just take it in in the example of money at least it will be clear for someone could not pay and you sponsored him Can they come after you to pay of course why
you sponsored but but you are not the one who took the merchandise
but the sponsor the same thing here with the rights of people.
we'll stop here inshallah.