Partnerships

Being partner to a business due to one’s labour

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...

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Dental partnership agreement

Question:- Dentist 'A' goes into a 50% partnership with dentist 'B'. Dentist 'A' will run the practice and earn 30% of total turnover (before expenses). Thereafter, the nett profit will be shared equally between the 2 partners. Is the above arrangement permissible?...

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Diminishing partnership

Question:- What is a diminishing partnership in terms of Shariah and how is it enacted? Answer:- The method of enacting a diminishing partnership is as follows: Zaid wants to purchase a house and only has 50% of the funds required to purchase it. He therefore requests...

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