Can a debt that is not yet due (Mā lam Yajab) be used as a pledge?
Chapter on Guaranteed Salaf (Advance Payment) for a Specified Term
Al-Mughni
Book of Sales
Primary text
A pledge is not valid for a debt that is not yet due, although surety is valid for it.
Supporting text
The distinction between pledge and surety in this context lies in two aspects. First, pledging these items nullifies the benefit derived; for example, if someone sells a slave for one thousand and offers a pledge worth one thousand, it is as if the price was not received, and no benefit was gained. Similarly, if the manumitted slave offers a pledge equivalent to his manumission value, he does not benefit from the delay because he could have sold the pledge or maintained the manumission contract, thereby avoiding the suspension of his slave's utility. Surety is contrary to this. Second, the harm of a pledge is general because its continued possession by the buyer prevents the seller from disposing of it, which is not the case with surety.