UAE Commercial Transactions Law

Article 488 — Article (488)

Book Three: Banking Transactions · Part Six: Commercial Transactions of Islamic Financial Institutions · Chapter Two: Special Provisions for Certain Types of Contracts and Obligations to which Islamic Financial Institutions are a Party: Section One: Promise to Contract: Article (475) · Section Five: Salam: Article (488)

Salam is a contract under which the seller sells to the purchaser property for deferred delivery, the manufacture of which is not stipulated, against a price paid immediately.

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