The Book of Financial Transactions - Sunan an-Nasa'i

A Scholarly Commentary on Hadith: "The two parties to a transaction both have the choice so long as they both chosen to conclude the transaction." (Sunan an-Nasa'i 4465)

Textual Analysis

This noble hadith establishes the fundamental principle of mutual consent (tarāḍin) in Islamic commercial law. The phrase "both have the choice" (al-khiyār) refers to the right of either party to retract from a sale before finalization.

The condition "so long as they both chosen to conclude" indicates that the transaction remains in a state of option until both parties explicitly or implicitly confirm their agreement.

Legal Implications

This hadith forms the basis for the doctrine of khiyār al-majlis (option of session), meaning both buyer and seller retain the right to cancel the transaction while they remain in the meeting place where the contract was initiated.

Scholars like Imam al-Shafi'i and Imam Ahmad emphasized that separation through words or physical departure terminates this option period, making the contract binding.

Practical Application

This principle protects both parties from hasty decisions and ensures transactions are entered into willingly without coercion or misunderstanding.

In modern contexts, this corresponds to the cooling-off period in contemporary commercial law, demonstrating Islam's foresight in establishing fair business practices fourteen centuries ago.