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WorksheetsFinancial contracts in Islam
Total questions: 24
Worksheet time: 13mins
َيا أَيُّهَا الَّذِينَ آمَنُوا أَوْفُوا بِالْعُقُودِ ۚ
O you who have believed, pay zakat once every year
O you who have believed, stand in the prayer
O you who have believed, fulfill [all] contracts.
What is the Arabic name for contracts?
Ilm
Taqwa
Al uqood
In a commercial market, a buyer paid the price shown on screen to the clerk without speaking. Which kind of form of contract it Is?
saying
writing
gesture or act
Voluntary-based, donations and marriage contracts come under which kind of contract?
exchange contracts
pledges contracts
security-based
Lending means giving money to someone who
agrees he they will pay the money back if they could
agrees that they will pay the money back in the future.
is doubtful about returning the money.
One of the examples of Religious contract/commitment:
Oath
Divorce
Selling
Leasing
One of the examples of financial contracts:
Observing
Selling
Divorce
Scholarships
Among the benefits of documenting and regulating contracts are:
Lack of trust between people in society
Excessive disputes and shipment
Preserving the rights of people from loss
Discord and dispute
Fatima sent a list of books that she wanted to buy from a website and then received an electronic response with approval, and then she paid the amount via a bank payment card. The form of contract is:
Action
Saying
Gesture
Written
An essential valid form for a contract in the Shariah is that it should consist of:
Offer and acceptance
Ijab and Qubool
Both options are correct
Is there any difference between men and women in establishing contractual legal capacity?
Yes
No
I don't know
What is a contract?
The illegal binding of group of people that includes people making agreements according to they’re wills which are prohibited in Islam
The legal binding of two parties that do not intent in a transaction in a manner
The legal binding of two or more parties intent in a transaction in a manner that is sanctioned and permissible in Islam
None of these
Choose the correct sentence based on the contract
He monopolized a commodity to raise the price and control its sale among people
He concealed from the buyer that his car had a big accident
One of the two contractors accepted the other’s demand to dismiss sale and cancel the contract
Choose whether the below statement is lawful or unlawful based on its contract-
1. He said to him “I bought this cell phone from you by all what I have in my pocket
Unlawful
Lawful
Both
None
ALLAH has prohibited financial contract which includes
Usury
Setting up a business
Righteous act
None of these
Choose the correct answer from the following-
1. Only one contract along the following contract is legitimate according to Sharia
He agreed to sell pork for thousand Dirhams
He agreed to lend him one hundred thousand Dirhams to be repaid a year later provided that he should pay 5% fine for each month’s delay
He agreed to sell his car for fifty thousand Dirhams
He agreed to lend his traveling father’s car without informing his father
State whether the given statement is true or false:
1. Illegal contracts are the contracts which are not prohibited by the Islamic Sharia and it entails any legal effects
True
False
Leasing contract
Lessor and tenant
Lender and borrower
Agent and principal
all of the above
Loan contract
Creditor and debtor
Lessor and borrower
Current and mortgaged
None of the above
Proxy contract
Lessor and tenant
Creditor and debtor
Lender and borrower
Agent and principle
The arrangement of financial contract has a great importance in —————-
Preventing conflict
Creating conflict
Both a and b
Which of the following describes a revocation or termination of an offer?
Rejection
Failure to satisfy or perform conditions.
Counter offer or rejection of the offer.
The offer may be terminated by passage of time or death of the offeree/offeror
All of the above are correct.
What is required to form a legally binding contract?
Offer, Acceptance, Consideration, Intention, Certainty.
Duty, Breach, Causation, Damages
Offer, Acceptance, Collateral, Sufficiency.
Invitation to treat, Offer, Counter Offer, Acceptance.
Voluntary-based, donations and marriage contracts come under which kind of contract?
exchange contracts
pledges contracts
security-based
