Contracts Concept and Kinds of Contracts in Islamic Perspective

Abstract

Contract is a basic need of human life and every person depends on others to fulfill his needs. This research paper is a detailed discussion on concept of contracts and its kinds in Islamic perspective. Different definitions of the contract have been discussed and elaborated with some illustrations. Major portion of the discussion is related to the kinds of contracts from different aspects. Ten main divisions of the contracts have been discussed in detail. These divisions are: legal and illegal contracts, valid and invalid contracts, obligatory and optional contracts, pecuniary and non pecuniary contracts, possessive and non possessive contracts, contracts in force and suspended contracts, compensatory and donation contracts, guaranteed and non guaranteed contracts, original and subsidiary contracts and lastly the immediate and continuous contracts. All these categories of the contracts have further different kinds which have been discussed in detail so that the reader may understand the nature of his daily contracts, its consequences and Sharia order related to all these kinds. This research will also be proved beneficial for the society and for the researchers also to continue their further research.