What is the required repayment for a loan of items that are neither measured by volume nor weight?
Chapter on Loan (Qard)
Al-Mughni
Book of Sales
Primary text
For items not measured by volume or weight, there are two established legal positions regarding repayment. One view mandates returning the item's value on the day the loan was taken. This is because such an item lacks a true equivalent (mithl), and thus its obligation in liability, similar to cases of destruction or usurpation, is based on its monetary value. The second view mandates returning the equivalent item (mithl) itself, supported by the action of the Prophet, peace be upon him, who borrowed a young she-camel and returned one equivalent to it. This latter view distinguishes lending from destruction or usurpation, as lending is less stringent, permitting deferred payment even for interest-bearing items when applicable. The equivalent should match the original item's characteristics as closely as possible, as true equivalence is primarily found in measureable goods.
Supporting text
If the true equivalent cannot be found for non-measurable items, the required repayment becomes the monetary value (qimah) on the day the equivalent becomes unobtainable, as the liability for monetary value is then established. Conversely, if the ruling is that the monetary value is due, it is established at the time of the loan itself because that is when the liability was fixed.