consignment should be closed and all goods should

consignment sale?An
alternative name for ‘sale
or return’, where the seller, manufacturer or wholesaler gives goods
to a second party (for example, a shop) to sell. The items remain in the
possession of the original seller, and the shopkeeper only has to pay for what
is sold.

Constitution of Medina, the, Medina Charter, Charter
of Medina?A peace treaty drafted by the Prophet Muhammad to end the fighting and
animosity between all the major tribes in the city, including Christians, Jews, Muslims and pagans.

consumer?In business terms,
consumers are the general public in the form of individuals or households, who
buy and use (consume) things. Almost all forms of business, whether they are B2B or B2C, ultimately rely on
consumers to generate income, and in turn it is employers’ payment of wages to
their staff that keeps the process going. The word consumer can also refer to a
product or service aimed at the general public rather than other business or
experts. For example, consumer banking is sometimes used as a synonym for
retail banking (as opposed to, say, merchant banking), and consumer
electronics are products for use in the home, for example, television sets and

contract?A binding
agreement between two parties, usually where one party offers a product
or service to the
other in return for some kind of payment. Contracts can be lengthy documents
drawn up for a specific one-off job or they can be duplicated many times for
many different customers (for example, a car hire contract). Contracts usually
contain stipulations on delivery dates, expected quality, quantity and any
other factor relevant to the arrangement, and breaking one’s side of a contract
can result in legal proceedings being commenced by the supposedly damaged
party. The law does, however, offer some protection to parties who have, to the
letter of the law, breached the contract but where the contract itself was
unclear, misleading, overcomplicated, or signed under pressure, for example.

contractual settlement date?The date by
which the transaction should be closed and all goods should have been delivered
to the new owner and all monies should have been transferred to the seller. It
is often simply called a settlement date.

conventional banking, conventional finance?In discourse
regarding Islamic
finance and banking, ‘conventional banking’ is simply one of the
phrases used to mean non-Islamic banking. The phrase does not have much use
outside such discourse as it is usually taken as a given that the banking
concerned is merely ‘banking’.


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