The Prophet (ﷺ) said: Both parties in a business transaction have a right to annul it so long as they have not separated unless it is a bargain with the option to annul is attached to it; and it is not permissible for one of them to separate from the other for fear that one may demand that the bargain be rescinded.
We fought one of our battle, and encamped at a certain place. One of our companions sold a horse for a slave. After that they remained there for the rest of day and night. When the next morning came, they prepared themselves for departure. The buyer of the horse began to saddle it, but the seller was ashamed (of the transaction). He went to the man (buyer) and asked him to annul the transaction. The man refused to hand it over (the horse) to him. He said: AbuBarzah, the companion of the Prophet (ﷺ), is to decide between me and you. They went to AbuBarzah in the corner of the army. They related this story to him. He said: Do you agree that I make a decision between you on the basis of the decision of the Messenger of Allah (ﷺ)? The Messenger of Allah (ﷺ) said: Both parties in a business transaction have an option (right) to annul it so long as they have not separated. Hisham to Hassan said that Jamil said in his version: "I do not think that you separated."
When Abu Zur'ah made a business transaction with a man, he gave him the right of option. He then would tell him: Give me the right of option (to annul the bargain). He said: I heard AbuHurayrah say: The Messenger of Allah (ﷺ) said: Two people must separate only by mutual consent.
The Messenger of Allah (ﷺ) as saying: Both parties in a business transaction have a right of option (to annul it) so long as they are not separated ; and if they tell the truth and make everything clear, they will be blessed in their transaction, but it they conceal anything and lie, the blessing on their transaction will be blotted out. Abu Dawud said: A similar tradition has also been transmitted by Sa'id b. Abi 'Arubah and Hammad. As regards with Hammam, he said in his version: Until they separate or exercise the right of option (to annul the transaction), saying the words of option three times.
I heard the Messenger of Allah, (ﷺ) say: When you enter into the inah transaction, hold the tails of oxen, are pleased with agriculture, and give up conducting jihad (struggle in the way of Allah). Allah will make disgrace prevail over you, and will not withdraw it until you return to your original religion.
When the Messenger of Allah (ﷺ) came to Medina, they were paying one, two and three years in advance for fruits, so he said: Those who pay in advance for anything, must do for a specified measure and weight with a specified time fixed.
'Abd Allah b. Shaddad and Abu Burdah disputed over salaf (payment in advance). They sent me to Ibn Abi Awfa and I asked him (about it) and he replied: We used to pay in advance (salaf) during the time of the Messenger of Allah (ﷺ), Abu Bakr and 'Umar in wheat, barley, dates and raisins. Ibn Kathir added: "to those people who did not possess these things." The agreed version then goes: I then asked Ibn Abza who gave a similar reply.