What is the legal status of the loan contract regarding revocation (ruju')?
Chapter on Loan (Qard)
Al-Mughni
Book of Sales
Primary text
The loan contract is binding (lazim) upon the lender, but permissible (ja'iz) for the borrower. The lender is not permitted to revoke the principal item of his wealth once the contract is established.
Supporting text
The justification for the lender's inability to revoke is that he relinquished ownership for a consideration without an option, thus resembling a sale contract. Unlike wrongfully seized property or a borrowed item, the lender cannot demand the like of the item when the original exists, and in this case, the borrower has the right to return the identical item.