Online Financial Dealings — practice questions

Correct answer: B. Clauses 3/1 to 3/3: Institutions may provide online access services on a subscription or similar basis against a specific fee. The contract is a shared-hiring contract (Ijarah Mushtarakah) between the Institution and the beneficiary and is subject to the rulings on hiring of persons generally and on hiring a shared employee in particular (Shari’ah Standard No. (34)). The Institution must take precautions to prevent impermissible use of the internet by beneficiaries.

Correct answer: D. Clauses 4/1 and 4/1/1: Contracts concluded through audio or audiovisual communication are subject to the rulings on contracts concluded in the parties’ presence, including unity of session, absence of any sign of disinterest, and succession of offer and acceptance. The session is the time of communication while the conversation concerns the contract; if the conversation ends, is disconnected, or shifts to another subject, the session is considered to have ended, unless the disconnection lasts only a reasonably short while.

Correct answer: A. Clauses 4/2 to 4/2/2: Contracts concluded by written communication, e-mail or website access are subject to the rulings on contracts between absent parties, akin to contracting by message. The session runs from communication of the offer until acceptance and may be discontinued if the offeror withdraws before acceptance. However, where the offeror specifies a validity period, the time for acceptance covers the whole period and the offeror has no right to withdraw during it.