A corporation contracted with an Islamic bank using the Murabaha contract to a fleet of trucks...

  

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A corporation contracted with an Islamic bank using the Murabaha contract to a fleet of trucks from a manufacturer, is it allowed for the corporation to rake delivery of the trucks directly from the manufacturer? purchase Allowed, if legal title to the trucks passes to the bank prior to delivery to the corporation b. Allowed, if legal title to the trucks passes to the bank after delivery to the corporation a. c. Not allowed, because the bank must take both legal title and physical posses sion of the trucks before delivering them to the corporation d. Not allowed, because the bank must take physical possession of the trucks before delivering them to the corporation, while legal title can pass directly to the corporation True/False Questions Write T for true and F for false next to the statement. 1. Musawama and Ijara are two types of Murabaha. 2. Murabaha is usually a deferred credit sale. 3. Murabaha profit is mutually agreed between bank and client. 4. The bank acts as a middleman in Murabaha. 5. In Murabaha, the client is informed of the cost of the asset, the markup is not required to be disclosed. 6. In Murabaha, the price of goods is decided later. A corporation contracted with an Islamic bank using the Murabaha contract to a fleet of trucks from a manufacturer, is it allowed for the corporation to rake delivery of the trucks directly from the manufacturer? purchase Allowed, if legal title to the trucks passes to the bank prior to delivery to the corporation b. Allowed, if legal title to the trucks passes to the bank after delivery to the corporation a. c. Not allowed, because the bank must take both legal title and physical posses sion of the trucks before delivering them to the corporation d. Not allowed, because the bank must take physical possession of the trucks before delivering them to the corporation, while legal title can pass directly to the corporation True/False Questions Write T for true and F for false next to the statement. 1. Musawama and Ijara are two types of Murabaha. 2. Murabaha is usually a deferred credit sale. 3. Murabaha profit is mutually agreed between bank and client. 4. The bank acts as a middleman in Murabaha. 5. In Murabaha, the client is informed of the cost of the asset, the markup is not required to be disclosed. 6. In Murabaha, the price of goods is decided later.

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1 T 2 T 3 F 4 F 5 F Explanation 1 Musawama and Ijara are two types of Murabaha Tru... View the full answer