Seadet-i Ebediyye - Endless Bliss Fifth Fascicle

of payment on a promissory note given for a loan. If the agreement
of hawâla was made in the presence of the giver of the hawâla, and
if the person who accepted the hawâla has paid something else or
the person who received the hawâla has donated it as a present or
as alms to him, he demands the property for which the hawâla was
made or its value from the giver of the hawâla, or gets it offset
against his debt to the giver of the hawâla.
If the person who accepted a hawâla and the one who received
it agree between themselves and thereby a payment more or less
than the amount of debt transferred is made, he, (i.e. the person
who has accepted the hawâla and made the payment,) may
demand the (exact) amount he has paid from the giver of the
hawâla. He cannot demand the amount transferred. If the
recipient of the hawâla declares the acceptor free from obligation,
i.e. if he makes it halâl for him (by waiving his right), the acceptor
of the hawâla cannot demand anything from the giver of the
hawâla. However, if the recipient of the hawâla donates it as a
present to the acceptor, the acceptor may demand the transferred
thing from the giver of the hawâla. If he waives his right by saying
that it is halâl, he cannot demand anything from the giver of the
hawâla.
[Hence, it is not permissible for banks and tradesmen to buy
negotiable paper at a discount. They pay the bearer of a bond less
than the amount written on it, and charge the person who wrote
the bond the exact amount, instead of charging the lesser amount
that they have paid. The information provided above shows that
this practice is not permissible.]
A letter written by the creditor to the debtor and ordering the
latter to pay his debt to him or to a designated person at a specified
time, is termed a ‘bill of exchange’.
A sale that is performed by stipulating that the seller will
transfer a creditor of his upon the buyer on the understanding that
the payment (of his debt) will be made from the themen (of the
sale), is fâsid. The transfer (hawâla) thereby made is batil (null and
void). A sale made conditional on that the buyer will transfer the
seller upon a third person for the themen, is sahîh. Please review
Sales That Are Fâsid in the thirty-first chapter! It is essential that
the buyer give the seller the bond that was prepared only by his
debtor, and that bond should not have been retransferred by way
of hawâla by the former receivers of hawâla. As has previously
been explained in the text, bonds travelling from one hand to
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