What is the permissible duration for stipulating the option to cancel a sale (Khiyar)?
Chapter on the Option of the Two Parties in Sale
Al-Mughni
Book of Sales
Primary text
It is permissible to stipulate a cancellation option for any agreed-upon, specified duration, whether short or long. This position is held by Abu Yusuf, Muhammad, Ibn al-Mundhir, Al-Hasan ibn Salih, Al-Anbari, Ibn Abi Layla, Ishaq, and Abu Thawr. Malik permits a duration exceeding three days only to the extent necessitated by the required travel time, such as four days for a distant village. The basis for allowing extension is that the option is a right dependent upon a stipulated condition, and thus its measure reverts to the condition set by the contracting parties, similar to a deferred payment term (Ajal).
Supporting text
Abu Hanifa and Al-Shafi'i rule that the option cannot exceed three days. They base this on the tradition attributed to Umar, peace be upon him, who stated that the Prophet established a three-day option for Habban, based on the duration granted in the Quranic verses concerning waiting periods (e.g., Quran 22:234; Quran 7:142; Quran 11:65). They argue that the option contradicts the inherent requirement of a sale to transfer ownership and enforceability, and thus should be limited to the minimum necessity, which they set at three days.