Is it permissible for the buyer to reclaim his car, which was sold by mutual consent, given that the sale was conducted over the phone and the payment has not yet been made or the ownership transferred?

The sales contract is binding on both parties, and neither party may unilaterally revoke it except with the mutual consent of both parties to annul it. Annulment (iqālah) is recommended due to the great reward it entails. The Islamic Fiqh Academy has issued a fatwa (definition) permitting the execution of contracts through modern communication devices such as the telephone. It considers contracting by telephone as contracting between present parties, and the original rulings of contracting apply to it, with the exception of marriage contracts, currency exchange (sarf), and forward sales (salam).