I want to know if i understood the hadith right about not to sell something which u do not possess. I will make an example, i hope you understand and can give rule if this is permissible. I work in a company and they would sell me furniture for 300 dollars. I have not bought any. What i want to do is tell a friend “hey i want to sell u a piece of furniture for 600 dollars.” The friend agrees and is about to hand u the money but the problem is u havent owned the furniture so u will have to go buy it first and then sell. And since u dont want to go in risk to buy the furniture first and have nobody to buy it, you would tell your friend “give me 600 and i will hand it over to u tomorrow”. So u made a deal with a friend that ure gonna sell something to him but first he has to give u the money, so that u can buy it from that owner (since u dont own it) for 300 dollars then u keep the other half. Is this permissible?
In Islamic Economy
Aug 1st, 2015
This is not permissible. The thing you do not own is not permissible for you to sell.