format_quote Originally Posted by
Umm Abed
Not sure if these rulings apply to gifts also, or is it for business transactions and gifts as well?
The difference between trading (business) and grant (free giving) is, in trading the first party get compensation (payment) for the goods/service that he give to the second party. While in grant like when the first party give a gift to the second party, the first party doesn't get compensation. But the rule of ownership is same.
What about verbal acknowledgements over the phone, for example?
If the goods is still held by the first party, then the verbal acknowledgements over the phone is considered as still a promise. The ownership still hasn't really takes place on the second party. Different than if the second party already hold the goods when the first party tell it on phone. In example, you borrow dinner set from your friend, then your friend tell you on phone "Umm Abed, you don't have to return the dinner set to me because I give that for you". In this case, the dinner set ownership instantly turn to you.
Wa Iyyaki.