As has already been pointed out, transactions are of various kinds.

Mutual Transactions

Such transactions are commitments which necessitate two parties. One is called the seller and the other is called the buyer. For example, if a person says: “I have sold” he will be the seller and another person who says: “I have bought” will be the buyer.

If the transaction rotates on the pivot of property, it is called compensation. Compensation is of two kinds:

(i) Uqud ul-Lazim (Binding or enforceable contract) e.g. purchase and sale, lease, exchange, mortgage, gift, gift by I exchange etc. Such transactions are sometimes termed Uqud ul-Mughabina (Contracts to avoid cheating) also because each of the parties’ endeavours that it may not be created and may profit more from the transaction.

(ii) Uqud ul-Ja’iz (Voidable Contracts) i.e. transactions which may be revoked by one or both the parties e.g. debt, gift without consideration, Ju’ala1 and the like.

Orders and conditions relating to enforceable as well as voidable contracts have been explained in our detailed as well as concise books on Jurisprudence. 

The point which must be mentioned here is that the Shi’a Ulama’ do not allow the slightest deviation from the Holy Qur’an and the Sunnah of the Holy Prophet and the rules deduced from them, whether it be in the matter of transactions or in the matters of worship. We do not at all permit any person to embark on acquisition of wealth and property except through lawful means like trade, farming, industry and the like. 

In our opinion every property which is acquired by way of usurpation, interest, misappropriation, fraud and cheating is unlawful. We do not allow anyone to practise fraud and swindling even in the case of infidels by usurping their property. We consider the payment of deposits to be one of the most important obligations and not to talk of the Muslim property, we do not regard any misappropriation to be permissible even in the case of unbelievers.

So much about the financial transactions. 

However, there are some mutual transactions and contracts which do not have a financial aspect although it is possible that they may also guarantee some financial rights. An example of such contracts is marriage, the real object of which is the preservation of the race, welfare of the family and the survival of mankind.

Marriage Contracts

From Shi’a point of view marriage is of two· types: Permanent Marriage and Temporary Marriage. In regards to the first type of marriage there is a consensus of opinion of all Muslims about it. In regards to the second type of marriage, i.e. Temporary Marriage which is also called Muta’ah, it is one of the special features of the Shi’a Faith only and the Holy Qur’an bears clear testimony about its being lawful:

“If you marry for the appointed time, you must pay their dowries” (4:24).

We say that this type of marriage is still lawful in the same manner in which it was made lawful in the early days of Islam and shall remain so forever. However, there has always been serious conflict between us and others on this issue and the history of this dispute dates back to the days of the companions of the Holy Prophet.

In view of the fact that for various reasons this issue carries importance, to explain its truths for enlightening the minds of all Muslim brethren becomes essential.

• 1. Ju‘ala may be to the effect that one may say: “I shall give so much money or a sum of money to the person who does such and such a thing for me”. (In Ju‘ala no particular acceptance by a specified person is necessary). Other conditions of such a transaction should be seen in the books on Jurisprudence.