Faculty of Law

Lagos State University

 ISL 203

al-Muamalat

Covid 19

• Lecturers: Dr. Olatoye, Dr. Edu, Dr. Olayemi

• Narrator: Dr. Olayemi

• Depart. Of International and Islamic Law

• Faculty of Law

• Lagos State University

Majlis al-Aqd

• Majlis al-Aqd is the Arabic terminology for contracting session or

contract assembly or meeting or place. It is anywhere two parties or
more can sit together in order to negotiate and agree on the terms
and conditions of a would-be contract (‘Aqd) or transaction.
• Majlis al-aqd is usually the marketplace (shops, business premises,
offices, etc.). However, it may be anywhere, physical or virtual, where
the parties can discuss and agree on how to draft a contract or finalize
a transaction. At majlis-al-aqd parties exchange al-Ijab (offer) and
acceptance (al-Qabul).
• For example, Islamic law of transaction stipulates that in a deferred
payment sale. That is bay’ al-Mu’ajal, the object of sale should be
delivered to the purchaser instantly in majlis al-aqd, and that the
price ‘al-thaman’ should be paid to the seller on some specific date (s)
as agreed by the two parties.
• Majlis al-aqd constitutes both the time and place of entering into the
contract.
• Itihad Majlis al-Aqd

• Itihad Majlis al-Aqd refers to the unity of time and place of a contracting session (Majlis
al-’Aqd).
• That implies that both contracting parties (parties to a contract) must be in the same
place at the same time to negotiate or finalize the transaction and agree to the terms
and conditions.
• That is, such as, offer (al-Ijab) and acceptance (al-Qabul), i.e., al-Ijab wa al-Qabul must
be then exchanged and communicated between the parties.
• However, if they are in different places, the transaction (safaqah) can be done through
different communication means (e-mail, video conferencing, etc) then a reasonably
sufficient time can be allowed to lapse between the offer and acceptance.
• To be continued…..