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...
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?...
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...
Question:- If any of the partners in a partnership agreement stops working, whereas the partnership agreement clearly states that he is required to work, and remains absent for a period of 10 years, then will such a partner still be considered as part of the...
Question:- Can a Mudhaarib accept funds from a number of individuals on a Mudhaarabah basis and use their funds jointly for his business ventures? Answer:- Yes, the funds of the various investors may be joined, with the proviso that explicit permission was...
Question:- Is it permissible for the partners of a Mudhaarabah partnership agreement to cancel the partnership? Answer:- Yes, it is permissible for both partners to inform each other and cancel the partnership. In this case, the Mudhaarib should return the...
Question:- Is it permissible for the partners in a partnership agreement to fix a particular period after which the partnership agreement will cease? Answer:- Yes, it is permissible for the partners to stipulate a particular period for the partnership...
Question:- Is it permissible for the investment agent to attach a condition that all expenses such as food, drink as well as household expenses will be drawn from the capital of the Mudhaarabah partnership? Answer:- If the investment agent (Mudhaarib)...