The Fatwa Department said that the buyer who wishes to return a gold ring or any gold jewelry to the seller due to the inappropriate size or for any other reason, will recover the price he paid upon purchase, not the value of the gold according to its price on the day of return.
A fatwa published by the department on its website explained that what is legally known as “dismissal” is considered an annulment of the contract and not a new contract, indicating that Islamic law recommends that the seller accept the buyer’s request for dismissal if he regrets the purchase.
She explained that dismissal is permissible in the sale of gold, and in this case the seller recovers the sold item, while the buyer recovers the amount he paid upon completing the purchase, without taking into account the differences in gold prices that may occur later.
She added that if the seller does not agree to the dismissal, there is no legal objection to the buyer selling the ring to the seller or someone else at the price agreed upon between the two parties.
She clarified that the exchange contract, including the sale of gold, does not include the option of dismissal that is conditional in advance when contracting, and that the aforementioned provisions apply when mutual agreement is reached between the two parties after the sale is completed.
