Buying on Credit: Difference between revisions
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===Benefits of the Seller=== | ===Benefits of the Seller=== | ||
# If a seller sells a product on credit he can't continue to use the product after he sold it. Doing so would be a form of interest since he sold the product he is entitled to be paid, therefore, letting the buyer pay later is a loan and the seller using the buyer's product is interest.<ref>Rama 174:1</ref> | # If a seller sells a product on credit he can't continue to use the product after he sold it. Doing so would be a form of interest since he sold the product he is entitled to be paid, therefore, letting the buyer pay later is a loan and the seller using the buyer's product is interest.<ref>Rama 174:1</ref> | ||
==Contracts with a | ==Contracts with a Deliverer== | ||
#If one arranges with a middle man to purchase a product for cheap in one location and deliver it to him if he pays in advance there is a concern of interest since the middle man is working for the buyer because of the advanced cash. To permit this one could either take responsibility for the product once the middle man buys it<ref>Shulchan Aruch Y.D. 173:16</ref> or pay the middle man a wage for his work.<ref>Rama 173:16, Shach 173:33</ref> | #If one arranges with a middle man to purchase a product for cheap in one location and deliver it to him if he pays in advance there is a concern of interest since the middle man is working for the buyer because of the advanced cash. To permit this one could either take responsibility for the product once the middle man buys it<ref>Shulchan Aruch Y.D. 173:16</ref> or pay the middle man a wage for his work.<ref>Rama 173:16, Shach 173:33</ref> | ||
# If the arrangement is that if the middle man shouldn't use the money for himself then it is permitted since the middle man is merely an agent.<ref>Shach 173:31, Chelkat Binyamin 173:181</ref> | # If the arrangement is that if the middle man shouldn't use the money for himself then it is permitted since the middle man is merely an agent.<ref>Shach 173:31, Chelkat Binyamin 173:181</ref> | ||
