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Lesson 78. Business (1). Partnership and Contracts. Partnerships for wealth development through trade, agriculture or industry are lawful as enacted and admitted by the Prophet (SAWS) in various forms. Al-`Anan (Cooperative) Partnership:.

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Lesson 78

Lesson 78

Business (1)


Partnership and contracts
Partnership and Contracts

  • Partnerships for wealth development through trade, agriculture or industry are lawful as enacted and admitted by the Prophet (SAWS) in various forms


Al anan cooperative partnership
Al-`Anan (Cooperative) Partnership:

  • In which individuals have their shares to invest money and divide profit and loss according to the value of each share.


Al abdan manual partnership
Al-Abdan (Manual) Partnership:

  • Individuals participate in a certain activity and agree on dividing the revenue between them.


Al wujuh well known partner partnership
Al-Wujuh (Well-Known Partner) Partnership:

  • It is the participation in trade transactions, purchase and sale, while dividing profit and loss.


Financing a profit sharing venture
Financing a Profit-Sharing Venture:

  • A Muslim gives another a sum of money to invest in a lawful business, and they share both profit and loss according to conditions they had stipulated.


Comprehensive partnership
Comprehensive Partnership:

  • It includes the above dealings, as the two partners authorize each other in carrying out any transactions and they share in both profit and loss.


Sharecropping
Sharecropping:

  • It is to let another cultivate his land in return for a known portion of the harvest.


Watering for part of the crop
Watering for Part of the Crop

  • It is to contract with another concerning irrigation of his crop in return for a known share of their yield.


Lesson 78


The legality of partnership
The legality of partnership:

  • The Messenger of Allah (SAWS) said:

  • “Allah, Most High, says: I make a third with two partners as long as one of them does not cheat the other, but when he cheats him, I depart from them.” (Reported by Abu-Dawud)


Manual partnership
Manual partnership:

  • `Abdullah Ibn-Mas`ud (RA) narrated:

  • “I, `Ammar, and Sa`d became partners in what we would receive on the day of Badr. Sa`d then brought two prisoners, but I and `Ammar did not bring anything.”

  • (Reported by an-Nasa’iyy and Abu-Dawud)


Financing a profit sharing venture1
Financing a Profit-sharing venture:

  • It was applied in the time of Prophet Muhammad (SAWS) and he agreed upon it.

  • (Minhaj al-Muslim)


Sharecropping and watering for part of the crop
Sharecropping and watering for part of the crop:

  • `Abdullah Ibn-`Umar (RA) narrated:

  • “The Prophet concluded a contract with the people of Khaybar to utilize the land on the condition that half the products of fruits or vegetation would be their share.”

  • (Reported by al-Bukhariyy and Muslim)


Sharecropping and watering
Sharecropping and watering

  • Rafi` Ibn-Khadij (RA) narrated that the Prophet (SAWS) said:

  • “It is better for one of you to lend his land to his brother than to take a prescribed sum from him.”

  • (Reported by an-Nasa’iyy)


Job wages
Job wages:

  • The Prophet (SAWS) said to a group of the Companions:

  • “How do you know that Surah Al-Fatihah is a Ruqyah? You have done the right thing. Divide (what you have got as a wage for Ruqyah) and assign for me a share with you.”

  • (Reported by Muslim)


Job wages1
Job wages:

  • The Messenger of Allah (SAWS) said:

  • “Allah, the Exalted, said: I will be the adversary of three persons on the Day of Judgment. One who makes a covenant in My Name and then breaks it, one who sells a free man as a slave and devours his price, and one who hires a workman and having taken full work from him, denied him his wages.”

  • (Reported by Al-Bukhari)


Job wages2
Job wages:

  • Abu Sa`id Al-Khudri (RA) narrated:

  • “The Prophet (SAWS) prohibited (Muslims) to hire a laborer without determining his wages.”

  • (Reported by Ahmad)


Job wages3
Job wages:

  • The Prophet (SAWS) also said:

  • “Anyone who practices medicine when he is not known as a practitioner will be held responsible.”

  • (Reported by An-Nasa’i, Abu Dawud,

  • and Ibn Majah)


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