Guaranteed Low Prices and Interest: Difference between revisions
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→Payments in Advance
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# A buyer and seller agreed upon a price for buying on credit and the sale was validated with a complete and formal acquisition. Then they renegotiate that if the buyer pays right away he doesn't have to pay as much that is permitted.<Ref>Shulchan Aruch 173:3</ref> | # A buyer and seller agreed upon a price for buying on credit and the sale was validated with a complete and formal acquisition. Then they renegotiate that if the buyer pays right away he doesn't have to pay as much that is permitted.<Ref>Shulchan Aruch 173:3</ref> | ||
# If the buyer's intention is purely to buy the item on credit in order to sell it immediately for a cheaper value that is considered a prohibited since it as though the cheaper price is stipulated as the value of the loan and yet he agreed to repay a higher amount.<ref>The Ritva b"m 65a cited by Bedek Habayit 173 writes that if someone purchases a commodity on credit it is permitted if the price isn't clear. However, if the buyer immediately sells it for less it shows that the loan obligated him to pay more than the value of the item and is interest. Chatom Sofer YD 137 follows the Ritva and writes that one can't bring a proof from Shulchan Aruch 163:3 or Taz 163:6 who imply otherwise since they didn't have the Ritva.</ref> | # If the buyer's intention is purely to buy the item on credit in order to sell it immediately for a cheaper value that is considered a prohibited since it as though the cheaper price is stipulated as the value of the loan and yet he agreed to repay a higher amount.<ref>The Ritva b"m 65a cited by Bedek Habayit 173 writes that if someone purchases a commodity on credit it is permitted if the price isn't clear. However, if the buyer immediately sells it for less it shows that the loan obligated him to pay more than the value of the item and is interest. Chatom Sofer YD 137 follows the Ritva and writes that one can't bring a proof from Shulchan Aruch 163:3 or Taz 163:6 who imply otherwise since they didn't have the Ritva.</ref> | ||
# If someone buys a certain amount of quantity of a commodity and it will mature naturally such as if someone bought gourds that were growing it is permitted for him to pay in advance even though when the gourds mature they would be more expensive.<ref>Bava Metsia 64a, Shulchan Aruch Y.D. 173:8</ref> The seller should then make sure to give him from the crop that he had when they arranged the sale.<ref>Hagahot Mordechai, Shach, and Taz. Chelkat Binyamin 173:112 writes that the Hagahot Mordechai doesn't mean that it is necessary to designate which very specific gourds he is going to sell, it is just necessary to say from his current crop he is going to sell and not going to buy others.</ref> As to the details of responsibility and insurance see footnote.<ref>Chelkat Binyamin 173:111 describes that most poskim hold that the mechanism here is a sale and as such it isn't the responsibility of the seller to buy others from the market if these ones spoil. If they were to do that it would be like poskin, stipulating to buy a future of a commodity, which is only permitted when the seller owns the product which isn't the case here. However, in the Biurim he writes that most rishonim indicate that even using the mechanism of pesika to have the seller responsible to ensure the commodity even if he has to buy more from the market. He says that one can rely on this lenient view.</ref> | |||
==Future Contracts of Commodities== | ==Future Contracts of Commodities== | ||
