Chapter 1 : Fundementals of Shariah and Muamalat

A contract must have a specific subject matter which normally refers to the goods or services under the contract.

The basis of all commercial activity is through the formation of contracts which is also referred to as?

The sources of Shariah law are Quran, Sunnah, Ijma and?

To enter a valid contract, there are 3 key elements that need to be fulfilled. Which is false

Aqidah deals in commercial rulings

In Shariah law, there are five maqasid (foundational goals) . Which of the following is related to this goal?

Islam is not a mere religion but “ad-din”, which means?

The key elements of Islam are aqidah, shariah and akhlaq

For shariah compliance, the basic principles that must be followed under muamalat are?

For a contract to be valid, the subject matter must not be?

The term muamalat refers to?

Aqidah generally refers to a firm belief in the fundamentals of Islam which are centered on?

In a contract, the price can be determined at a later date

The consideration in a contract is defined as

Which statement is false regarding basic principles in forming shariah rulings in muamalat?