Description
From the point of view of economic history, the ideal way to study any institution of commercial law would be to compare the information contained in legal codes and treatises with the material relating to its application in economic life as manifested by actual contracts, letters, and business records found in archives and other repositories. In the case of the early centuries of the Islamic period, available sources unfortunately preclude such a procedure. Theoretical legal texts exist in abundance, but any corresponding documentary material is for all practical purposes non-extant. In order to determine if the framework in which the trade and commerce of the early Islamic period was carried on--a trade known to have been active and important--we must of necessity rely on legal treatises for most of our information, which trying wherever possible to call upon whatever meager help other literary sources may provide.
In the absence of documentary and similar sources, the possibility of investigating the quantitative aspects of trade is all but eliminated. However, in those areas of trade which have been described as qualitative, such as the variety of goods exchanged, the specialization of the merchant class, and the complexity of business methods, legal and other literary sources provide a great deal of valuable information. It is with the institutions of partnership and commenda in the early Islamic period, two of the qualitative components of trade, that A
Chapter
III. THE HANAFĪ MUFĀWADA PARTNERSHIP
III. THE HANAFĪ MUFĀWADA PARTNERSHIP
Derivation of the Term Mufāwada
Derivation of the Term Mufāwada
Equality in the Mufāwada Partnership
Equality in the Mufāwada Partnership
Equality of Investment, Profit, and Loss
Equality of Investment, Profit, and Loss
Investment Form and Formation of Joint Capital
Investment Form and Formation of Joint Capital
Gold and Silver Coins—Dinars and Dirhams
Gold and Silver Coins—Dinars and Dirhams
Goods ('Urūd) as Partnership Investment
Goods ('Urūd) as Partnership Investment
Labor as Partnership Investment
Labor as Partnership Investment
Exclusion of Unskilled and Non-Sedentary Labor
Exclusion of Unskilled and Non-Sedentary Labor
Effectiveness of the Contract
Effectiveness of the Contract
Ibdā' in the Mufāwada Partnership
Ibdā' in the Mufāwada Partnership
Deposits and Pledges in the Mufāwada
Deposits and Pledges in the Mufāwada
Purchase, Sale, and Debts of the Mufāwada Partners
Purchase, Sale, and Debts of the Mufāwada Partners
Expenses of the Mufāwada Partners
Expenses of the Mufāwada Partners
Investments with Third Parties
Investments with Third Parties
Dissolution of the Partnership
Dissolution of the Partnership
IV. HANAFĪ LIMITED INVESTMENT PARTNERSHIP (Inān}
IV. HANAFĪ LIMITED INVESTMENT PARTNERSHIP (Inān}
Derivation of the Term 'Inān
Derivation of the Term 'Inān
Specified and General 'Inān Partnerships
Specified and General 'Inān Partnerships
Formation of the 'Inān Partnership
Formation of the 'Inān Partnership
Formation of the 'Inān by Default
Formation of the 'Inān by Default
Distribution of Profit and Loss in an 'Inān Contract
Distribution of Profit and Loss in an 'Inān Contract
Transactions of the 'Inān Partner
Transactions of the 'Inān Partner
Terminology and Classification
Terminology and Classification
Proportional Principle (Takāfu')
Proportional Principle (Takāfu')
Formation of the Mufā'wada Partnership
Formation of the Mufā'wada Partnership
Conduct of the Partnership
Conduct of the Partnership
Partnership with Third Parties
Partnership with Third Parties
Purchase, Sale, and Debts
Purchase, Sale, and Debts
Exclusions from Mutual Liability
Exclusions from Mutual Liability
VI. THE COMMENDA (Mudāraba, Qirād, Muqārada)
VI. THE COMMENDA (Mudāraba, Qirād, Muqārada)
Origins and Early History
Origins and Early History
Uniformity of Legal Treatment
Uniformity of Legal Treatment
Inadmissibility of Goods as Investment
Inadmissibility of Goods as Investment
Non-Commercial and Industrial Commenda
Non-Commercial and Industrial Commenda
Ready Cash, Debts, and Deposits
Ready Cash, Debts, and Deposits
Alienation of Money on Part of Investor
Alienation of Money on Part of Investor
Provisions for Profit-Sharing
Provisions for Profit-Sharing
Commenda with Limited and Unlimited Mandate
Commenda with Limited and Unlimited Mandate
Investor and Agent During Operation of the Commenda
Investor and Agent During Operation of the Commenda
Interdenominational Commenda
Interdenominational Commenda
Extra-Commercial Expenses
Extra-Commercial Expenses
Local and Short-Distance Commenda Expenses
Local and Short-Distance Commenda Expenses
Distribution of Liability
Distribution of Liability
Conclusion of the Commenda
Conclusion of the Commenda
VII. ISLAMIC LAW: THEORY AND PRACTICE
VII. ISLAMIC LAW: THEORY AND PRACTICE
Partnership and Profit in Medieval Islam
：Partnership and Profit in Medieval Islam
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