Question
Sometimes money is paid to reserve an item. Is this a valid sale? Does the money become the property of the seller or is it an amaanat in his custody?
Answer
Money paid to 'reserve' an item is part payment of the purchase price. The sale is transacted when the money (part payment) is made. The seller has the right to retain the goods until he receives the full payment. The seller is the owner of the money. It is not an amaanat.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 22 No 06
- PDF page
- 4
Appears under Questions and Answers (approximate).