A class of contracts to which shari’ah 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/ suretyship (kafalah), agency (wakalah), gift (hibah), debt transfer (hawalah), loan (qardh), etc.
Named contract (also nominate contract) is English for the Arabic term “aqd musamma” (عقد مسمى, singular of uqud musammah or uqud musammat).
