Partnerships

QUESTION: In a partnership, can an active partner take a salary? ANSWER: Yes, it is permissible for the active partner to take a salary. However, it is imperative that the following conditions be adhered to: 1. The employment contract must be an independent contract...

QUESTION: I was in a business partnership and owned 50% of the company. The other partner managed the finances which I did not have access to. There was no real Hisaab (account) as the partner did not keep a record. The partnership suffered a great loss. Am I...

Question: Determining Share Percentage in an Islamic Partnership: In a traditional company or partnership, a partner's share percentage is often determined by the ratio of their initial investment to the total investments of all partners. Is this principle applicable...

Question:- A wife started a business from home while her husband worked and supported the household. The wife's business prospered so they both agreed that the husband should leave work and join her in business. This business flourished thereafter. Unfortunately, some...

Question:- What is the ruling on the following matter? We are three partners in a property. We own half the property and the other two partners own a 1/4 share each. Three years ago we had a meeting and offered to buy the other two partners out as per their request....

Question:- Two people own a piece of land which is in joint partnership. One partner decides to cultivate the land and sell the produce (with the permission of the other partner). Does the other partner share in the profits (from the produce that will be sold)?...

Question:- My siblings and I are partners in a business. I am the only the only active partner while the rest are all silent partners. They are not willing to sell their shares over to me. Can they be forced to sell their shares over to me since they are all silent...