Islamic Ethics in Business Transaction and Organization
Elements to form a legally binding contract EXCEPT:
Offer and acceptance
Muslim contracting parties
Mutuality of obligation
In the agreement with its business partner, Melati Sdn Bhd has clearly outline all the details of the company such as the names and address of the contracting parties, the term of agreement and etc. This explains one of the aspects in business agreement which is:
Non disclosure agreement
The sale was finalized with the buyer or seller touching a piece of cloth. The statement above explains about:
Which of the following involve Riba An Nasiah
Paying additional charges for credit card usage due to late payment
Exchanging 10 grams of 999 gold with 15 grams of 916 gold.
Purchasing motorcycle from Tan Cheong Sdn Bhd with deferred payment
Exchanging Ringgit Malaysia with Korean Won in deferred payment
Which of the following sales does not involve gharar?
Sales of without proper description
Sales of good without specifying the price
Sales of good specifying the quantity of the goods
Making a contract conditional on an unknown event
There are 5 questions to complete.