What is the ruling on establishing a pledge before the underlying debt is established?
General Chapter
Al-Mughni
Book of Pledges (Collateral)
Primary text
The apparent position in the madhhab is that establishing a pledge before the debt is established is invalid. This is the chosen position of Abu Bakr and Al-Qadi, and Al-Qadi mentioned that Ahmad narrated this explicitly in the narration of Ibn Mansur. It is also the madhhab of Al-Shafi'i.
Supporting text
The view held by Abu Al-Khattab is that establishing the pledge before the debt is valid. Furthermore, if one states, 'I pledge this garment to you for ten which you will lend me tomorrow,' and delivers it, and then the loan is granted, the pledge becomes binding. This aligns with the madhhab of Malik and Abu Hanifa, as it is a security for a future right, which is permissible prior to obligation, akin to a guarantee (Daman), or because the contract addresses a future event, like a warranty of title (Daman Al-Dark).