Praise be to Allah
Firstly:
If someone sells
something to another person who is unaware of its real price and did not
bargain about the price, trusting the purchaser to be honest, then finds out
that he was cheated, he has the choice to annul the deal.
He has the right
to ask the purchaser for the rest of the price, and if the purchaser
refuses, then the seller has the right to cancel the deal, take back the
items sold, and give back to the purchaser the price that he paid.
The fuqahaa’
differed with regard to the percentage of the price that is regarded as
cheating – whether it is one third or one fifth or what is regarded by
traders as being unfair and cheating – but if your brother bought from your
sisters their shares, which were the same as your share, for 160,000, and
this was the market price, then what happened to you is cheating and is
unfair according to scholarly consensus.
See the answer
to question no. 263764.
It says in
Kashshaaf al-Qinaa‘ (7/435) regarding one who has the right to cancel a
deal that is regarded as unfair and cheating: … the third case is one who
entered into a transaction on the basis of trust. What is meant here is one
who was unaware of the real value, whether he was a seller or a purchaser,
and is not good at bargaining. He has the option of annulling the deal if he
was cheated of the percentage mentioned above, i.e., by a percentage that is
out of the ordinary, because that unfair deal took place because of his
ignorance (of the real value). Therefore he has the right to annul the deal.
But in the case
of one who has experience and is aware of the price of the item sold, but
enters into a transaction knowing that the price is unfair, and one who
accepts an unfair price because he was in a hurry to sell, and if he had
paused to think and had not rushed, that unfair transaction would not have
taken place – in these cases they do not have the right to annul the deal,
because there was no cheating or deceit in this case. End quote.
Shaykh Ibn
‘Uthaymeen (may Allah have mercy on him) said: If someone buys an item for
2500 riyals, when it is only worth 1500 riyals, if the seller knew that the
price was 1500 riyals, but he knew that this man was a stranger who did not
know prices, and he sold it to him for 2500, then he is sinning and it is
not permissible for him to do that; if the buyer finds out, then he has the
right to annul the deal, and this is described as an annulment due to an
unfair deal, because 1000 out of 2500 is a lot. But if it was slightly
unfair, such as a 10% difference, then that does not matter, because people
commonly do deals that involve slight overcharging or undercharging.
But if the
seller does not know – for example, if the price is 2500 but prices have
fallen, and the seller is unaware of the fall in prices, then the seller is
not sinning, but the purchaser still has the right to annul the deal,
because he has been subject to an unfair deal.
End quote from
Liqaa’ al-Baab al-Maftooh (56/14).
And he (may
Allah have mercy on him) said: if someone were to ask: is it possible for
the seller to enter into an unfair deal and be cheated?
The answer is:
Yes, this happened a great deal, especially in earlier times. For example, a
trader might know that sugar was rising in price, so he would go to people
who had sugar and buy all that they had at the current price, when they did
not know that its value had risen. This is undoubtedly unfair and is
cheating, and the sellers were not being negligent when they sold it at that
price, because when they sold it they thought that that was the correct
value and that the prices were stable.
To sum up: just
as the purchaser has the right to cancel the deal if he finds out that he
got into an unfair deal, the seller also has the right, if he finds that he
got into an unfair deal, to cancel the deal. There is no difference in that
regard.
End quote from
ash-Sharh al-Mumti‘ (8/303).
Secondly:
The right to
cancel an unfair deal gives the one who finds that he has been cheated the
choice between annulling the deal or going ahead with the deal without any
compensation.
Some of the
scholars said: he has the right to choose between cancelling the deal or
going ahead with the deal with compensation, which is to make up for the
difference in price.
According to the
first view, you have the right to cancel the deal, then to sell your share
for the price that you want.
According to the
second view, you have the right to go ahead with the deal and to be given
the difference, which is 100,000.
It says in
Kashshaaf al-Qinaa‘ (3/212):
The purchaser
has a choice between returning the goods or keeping them.
Ibn Rajab said
in Sharh al-Arba‘een an-Nawawiyyah: The price should be reduced for
the purchaser to a level that is fair, if he has been cheated, and the extra
amount should be returned to him if he has already paid it.
And Allah knows
best.