Increasing the price because of deferred payment

Question

Question: Zayd bought a rickshaw for four hundred rupees and gave this rickshaw to Bakr for six hundred and fifty rupees; at that time Zayd took fifty rupees from Bakr, and Bakr is to keep paying the remaining six hundred rupees at the rate of twelve and a half rupees a week. Until the amount is received he will keep paying this instalment, and once the amount is complete Zayd will transfer the rickshaw into Bakr’s name.

Answer

Increasing the price because of deferred payment is valid both in the Shari‘a and by custom, as is explicitly stated in al-Hidaya and other works: [ar]ألا ترى أنه يزاد في الثمن لأجل الأجل[/ar] “Do you not see that the price is increased for the sake of the term?

Source: Fatawa Mahmudiyya

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