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11. Partnership (Shirkah)

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  • Ruling 2162

    If the partner who conducts transactions with the partnership capital buys and sells in a manner that is contrary to the contract made with him, or if no contract was made with him and he conducts transactions in …

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  • Ruling 2163

    If the partner who conducts transactions with the partnership capital is neither excessive nor negligent in safeguarding the capital, but it so happens that part of the capital or all of it perishes, he is not responsible.

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  • Ruling 2164

    If the partner who conducts transactions with the partnership capital says that the capital has perished, in the event that he is trusted by the other partners, they must accept his word. But if this is not the …

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  • Ruling 2165

    In a permission-based partnership [as defined in Ruling 2160], if all the partners withdraw the consent they gave each other for them to have disposal over their property, then none of them can have disposal over the partnership …

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  • Ruling 2166*

    In an exchange-based partnership, a period must be specified, and it is necessary that the partnership continue until the end of the period. If the partnership is a permission-based one, it is not necessary that a period be …

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  • Ruling 2167

    If one of the partners of a permission-based partnership dies or becomes insane or unconscious, the other partners cannot have disposal over the property. The same applies if one of them becomes foolish with finances, i.e. he spends …

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  • Ruling 2168

    If a partner buys something on credit for himself, then any profit or loss resulting from this is his. However, if he buys it for the partnership and the partnership agreement allows for credit transactions, then any resulting …

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  • Ruling 2169

    If one of the partners conducts a transaction with the partnership capital and later realises that the partnership was invalid, in the event that permission for the transaction was not contingent on the validity of the partnership in …

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