Due to this, no transaction occurs with it.
📌Due to this, no transaction occurs with it. It is of two kinds: A Real Promissory Note . It is considered as the certificate which the debtor gives in compensation for his debt to the creditor. The Friendly Promissory Note (or I.O.U). It is that which an individual gives without it being in compensation for a debt.
📌The intent of this promissory note is (that one) gives this certificate to a third person and he takes from that person an amount of currency less than what is written in the promissory note. Issue 980: When someone gives a Real Promissory Note to another person and he transacts with a lesser amount, like he gives a certificate whose amount is one hundred Dinaar at the time of its realization after three months, in exchange for receiving ninety Dinaar cash.
📌The Real Promissory Note (valued at) one hundred Dinaar, which is the actual liability of the debtor, is sold for ninety Dinaar cash. This transaction is called Decreasing Promissory Note and it is proper and there is no objection in it. However, the execution of the Friendly Promissory Note is objectionable because a true debt doesn't exist. The methods mentioned to resolve this difficulty are (also) not, without exception, free of objection.
📌Issue 981: It is lawful to approach the signatory of the Promissory Note, meaning the giver of the promissory note, when he had not paid his debt in the established time, it is permissible for the creditor to take his debt from that which they had placed on the Promissory Note. In reality, the one given the promissory note is liable to the debtor such that when (the debtor) pays his debt (the holder of the promissory note) must go to pay his debt.
This type of liability is said to add responsibility upon responsibility and it is proper. Issue 982: Transactions with salable notes or that which is called money exchanges is permitted, meaning to exchange Syrian currency, for example, with Iranian currency or Jordanian currency with Marks or dollars. There is no objection in the increases and reductions in it.
However, to give a loan to someone as an amount of money whether it be in the currency of an Islamic nation or foreign currency, it is permitted only that he receive the same amount from him. Whatever excess is interest and unlawful.
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