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Ruling 2157

If the partners agree that one person will take all the profits or that one of them will bear all the losses, the validity of such a partnership is problematic (maḥall al‑ishkāl) [i.e. based on obligatory precaution (al‑iḥtiyāṭ al‑wājib), it is not valid].1
 
1 As mentioned in Ruling 6, the term ‘problematic’ (maḥall al‑ishkāl) amounts to saying that the ruling is based on obligatory precaution.