Khiyar (Option)

Khiyar, or "option," is a legal right allowing a party to withdraw from a contract within a specified period or under certain conditions. In transactions like sales, it grants the buyer or seller the flexibility to reconsider before finalizing. If the party exercises the Khiyar, the contract can be canceled without penalty; if not, it becomes binding. This concept offers protection and fairness, ensuring both sides have assurance and the opportunity to reassess their agreement, fostering trust and reducing potential disputes in contractual dealings.