Is a forward contract valid for buttermilk (mukhid)?
Chapter on Guaranteed Salaf (Advance Payment) for a Specified Term
Al-Mughni
Book of Sales
Primary text
The contract is valid for buttermilk, according to Ahmad. The evidence supporting this is that the small amount of water contained therein is customarily left for benefit, similar to water in sesame oil (shayraj), salt and rennet in cheese, and water in date vinegar; such customary presence does not invalidate the Salam contract.
Supporting text
Al-Shafi'i holds that a forward contract for buttermilk is invalid because it contains water, which is not part of the intended substance, thus rendering the object of the contract unknown.