The Relationship between Buying and Selling Coins and Foolish Transactions from the Perspective of Imami Fiqh

Document Type : Original Article

Author

Department of Fiqh and Private Law, Shahid Motahari University, Tehran, Iran.

Abstract

A foolish transaction is a transaction made by a legally competent person but regarded by custom as lacking economic proportionality between the countervalues and lacking a rational purpose. It is therefore not a transaction ordinarily undertaken by rational people. The notion of a foolish transaction, distinct from a transaction by a legally incompetent person, is a relatively recent issue in fiqh and law and is disputed with respect to validity. Coins, as a new form of digital asset, have become important in global economic exchange but raise questions concerning their fiqhi and legal nature. One objection is that coin transactions are foolish and therefore void. This article, using a descriptive-analytical method, clarifies the concept of foolish transactions, distinguishes it from transactions by incompetent persons, and evaluates whether coin transactions fall under that category. The findings show that foolishness in a transaction is relative, that a personal rational purpose may remove the transaction from this category, and that the main criteria for foolishness - absence of property status, rational benefit, ownership, deliverability, or determinacy - are not established in coin transactions.

Keywords

Main Subjects


Reference

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