What is the status of a seller's option to rescind (*khiyar*) if the seller becomes bankrupt before exercising it?

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If a seller who stipulated an option to rescind (*khiyar*) subsequently becomes bankrupt, the option remains in effect. The bankrupt seller is not compelled to either accept the transaction or rescind it because bankruptcy prevents the initiation of new contracts, but it does not prevent the ratification or execution of existing contracts.