Trade

Cheating in a sale

Q: My neighbour wanted to buy a cooking pot for R100. I told her not to buy it as I will get one for her for just R70. She agreed because she was saving R30 on the same pot. However, my intention was that I will buy the pot for just R55 and tell her that it cost R70. In this way, I will make R15 without telling her. Is this permissible?

Early settlement discount

Q: Please advise if the following type of transactions are valid, not valid or improper:

A business has an agreement with a supplier to pay after 30 days from date of delivery with a limit of R50 000.00. 

1. The business puts a condition on all purchase orders, that should the supplier request an earlier payment, it will incur a early settlement discount of x% on a daily basis.

2. At times the business goes over the limit of R50 000.00 , hence early payment now becomes binding in order for the supplier to deliver further orders, can the business in this situation claim the x% early settlement discounts.

Cancellation of a transaction upon a specific time limit

Q: I want to sell a piece of land. The total price is R1.5 million. The buyer will pay me a 33% deposit as an upfront payment and the rest within 6 months, and then only will I hand over the land papers and land to him. If the purchaser fails to give me 67% within these 6 months, the sale will be cancelled and the purchaser will lose the 33% deposit. Is this clause permissible (forfeiting the initial deposit)?

Selling sweets for a madrasah

Q: I am standing at a stall in a madrasah and selling things for the madrasah such as sweets, etc. The items do not belong to me but to the madrasah. Can I purchase items for myself from the stalls, or would this be impermissible since I would, in essence, be the buyer and the seller at the same time?