Agent's Commission In The Balance Of Financial Transactions Jurisprudence Study

Abstract

The study aimed at investigating the rulings of the commissioners from Islamic and secular perspectives. The study used the comparative descriptive methodology to investigate the targets in question.  To gather the required data, a review of literature was administered. The study came to the conclusions that; first, both Islamic and secular laws agree that the commissioner is a person who is empowered to contract on behalf of someone else; second, both Islamic and secular laws agree that the commissioner's job is permissible; third, Islam disagrees with the secular law concerning some of the commissioner's contract terms. Islam makes a condition that the two parties engaged in a contract must be pubescent whereas the secular law stipulates that the contractors must be less than twenty years old. This is a sign of superiority of Islam since it allows the gifted pubescent to develop their commercial skills; fourth, Islam disagrees with the secular law concerning the pre-determination of pay. Islam stipulates that if the pay is not pre-determined, the contract shall be abolished and the commissioners deserves the pay of the like whereas the secular law does not consider this clause. This indicates the superiority of Islam as it uproots the causes of dispute. The study recommended that the legislators ought to reconsider the commercial act to go line un line with what Islam states.