Islam and Human Rights — Page 69
Economic Values 69 should dictate the terms of the contract (2:283). Monopolies and the cornering of commodities are pro hibited; so also is the holding back of produce from the market in expectation of a rise in prices. 36 All this is opposed to beneficence, and those who indulge in such practices seek to take advantage of the need or distress of their fellow beings. The seller is under obligation to disclose any defect in the article offered for sale. 37 Goods and commodities for sale should go into the open market, and the seller or his agent must be aware of the state of the market before proposals are made for purchase of the goods or commodities in bulk. He should not be taken unawares, lest advantage be taken of bis ignorance of the state of the market and the prevailing prices. 38 There are stern injunctions in the Quran with regard to the giving of full weight and measure (26:182-185). “Woe unto those who give short measure; those who, 36 Ibn Maja II, Sect. :Trade, Ch. :Holding back Commodities; Muslim II; Sect. :Sales, Ch. :Prohibition of holding back Foodstuffs. 37 Bukhari II, Sect. :Sales, Ch. :Revocation, etc. , Ibn Maja II. Sect. :trade, Ch. :Seller should disclose defects. 38 Bukhari II, Sect. :Sales, Ch. :Prohibition against purchase of goods before they arrive in the market.