A class of contracts to which shari’a has assigned specific names and handled in details their respective rules and stipulations. These contracts could belong to the class of commutative contracts (uqud mua’wadhah) or non-commutative contracts (uqud tabarru’). Examples include sale (ba’i), partnership (musharakah), guarantee (kafalah), agency (wakalah), gift (hibah), debt transfer (hawalah), loan (qardh), etc.
Al-aqd al-musamma (العقد المسمى) is an Arabic term that translates into named contract.
