ভূমিকা

Shiavault - a Vault of Shia Islamic Books A Brief of Islamic Law Laws of Partnership If two persons make an agreement that they would trade with the goods jointly owned by them, and would divide the profit between themselves, the partnership will be valid. If some person enter into a partnership to share the wages from their labour, like, if a few barbers or labourers agree mutually that they would divide between themselves whatever wages they earn, that partnership is not in order.

But if they enter into a mutual compromise that, say, half of what one earns will be given to the other, for a fixed period, in exchange of half of what the other earns, this transaction will be valid, and thus each will be a partner in the wages of the other.

If two person enter into a partnership, on the terms that each of them would purchase a commodity on his own responsibility, and each would be responsible for the payment of its price, but would share the profit which they earn of them makes the other will be a partner in it, which means that he and his partner are responsible for the debt, then they will be considered partners in that commodity.

The persons who become partners under the rules of partnership, must be adult and sane, and should have intention and free volition for becoming partners. They should also be able to exercise discretion over their properties. Hence, if a feeble-minded person who spends his wealth impudently, enters into partnership, it is not order, because such a person has no right of disposal over his property.

If a condition is laid down in an agreement of partnership, that the partner who manages, or does more work than the other partner, or does more important work than the other, will get larger share of the profit, it is necessary that he should be given his share as agreed upon. Partnership has two kinds: 1. Partnership with permission, which occurs when the capital is jointly shared by the partners before the deal of partnership is made. 2.

Partnership with exchange which establishes when either of the parties presents his property for partnership, and then each of them exchanges half of his property with half of the other party's property. If it is not specified as to which of the partners will buy and sell with the capital, in the partnership of permission neither of them can conclude any transcations with that capital withuot the permission of the other.