What is the ruling if the collateral spoils before the debt is due and the contract was unrestricted regarding sale?
General Chapter
Al-Mughni
Book of Pledges (Collateral)
Primary text
If the item spoils before the debt is due and the contract did not stipulate the sale, the ruling aligns with the view that the item should be sold, and the proceeds held as collateral. This is based on established custom, as the owner does not expose their property to ruin. Therefore, when preservation is achieved through sale, the unrestricted contract is interpreted to include this provision, analogous to stipulating the drying of perishable goods, the feeding of animals, or the securing of items needing safekeeping.
Supporting text
If the contract stipulated that the collateral shall not be sold, the stipulation is void because it requires something that leads to the corruption and failure of the intended purpose of the contract, resembling stipulating against drying something that needs drying or failing to provide sustenance for an animal.