Guaranteed Low Prices and Interest: Difference between revisions
From Halachipedia
→Future Contracts of Commodities (Poskin)
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# It is forbidden to pay in advance for the later delivery of a commodity since it is possible that the price of the commodity will rise. The two ways to permit this is if the seller has the commodity already or the marketplace price is already fixed.<ref>Shulchan Aruch Y.D. 163:1</ref> | # It is forbidden to pay in advance for the later delivery of a commodity since it is possible that the price of the commodity will rise. The two ways to permit this is if the seller has the commodity already or the marketplace price is already fixed.<ref>Shulchan Aruch Y.D. 163:1</ref> | ||
# If the price of the commodity drops the buyer can renegotiate his part of the deal and buy it for cheaper.<Ref>Mishna Bava Metsia 72b, Shulchan Aruch Y.D. 175:7</ref> | # If the price of the commodity drops the buyer can renegotiate his part of the deal and buy it for cheaper.<Ref>Mishna Bava Metsia 72b, Shulchan Aruch Y.D. 175:7</ref> | ||
# If a person is making a down payment for later delivery of a commodity in a permitted fashion the buyer can not benefit from the sale in other ways. Therefore if there would be storage costs upon the seller the buyer would have to pay for those.<Ref>Shulchan Aruch 175:5. Rosh Bava Metsia 5:9 writes that one can't benefit from the downpayment and so the buyer needs to accept any depreciation because of the storage from the time of the payment until delivery.</ref> | |||
===Marketplace Price Fixed (Yatza Hashaar)=== | ===Marketplace Price Fixed (Yatza Hashaar)=== | ||
# If the price of the marketplace is fixed it is permitted to pay in advance for the later delivery of a commodity. The reason is since the marketplace price is fixed it is possible for the seller to purchase the commodity immediately with the funds of the buyer. Therefore, it is as though the commodity is already in the position of the seller.<ref>Mishna Bava Metsia 72b, Shulchan Aruch Y.D. 175:1</ref> | # If the price of the marketplace is fixed it is permitted to pay in advance for the later delivery of a commodity. The reason is since the marketplace price is fixed it is possible for the seller to purchase the commodity immediately with the funds of the buyer. Therefore, it is as though the commodity is already in the position of the seller.<ref>Mishna Bava Metsia 72b, Shulchan Aruch Y.D. 175:1</ref> | ||
