Essential Reading In Termination of Contractual Obligation In Islamic Commercial Law

Author: Prof. Dr. Rusni Hassan

Publisher: ISRA

ISBN: 9789670175164

Pages: 346pp

Weight:

Year: 2019

Price: RM100

The content of this book is mainly on the modes and procedures of termination of contractual obligation from the Shariah perspective or known as suqut al mujabat. The discussion starts with the introduction on the concept of contractual obligation (iltizam) and its relevant concepts. This is followed by deliberation on the modes of termination of contractual liabilities that parties to a contract can use if they wish to relinquish or terminate their financial or contractual liabilities and/or obligations. The prescribed Shariah methods for this purpose includes the fulfillment or performance (al-ija'), the waiver or release (al-ibra'), novation (tajdid al-mujabat), set-off (tajdid al-muqassah), fusion of liabilities (ittibad al-dhimmah) and overdue of such obligation by means of limitation period (al-taqadum). The discussions examines and analyse the concepts by referring to the views of scholar that are available in the rich literature of early and contemporary Muslim scholars (fuqaha'). The book ends with the cerebration on the applicability of such principles and concepts into the contemporary commercial transactions particularly Islamic banking and finance.