His statement, “Whatever profit they make is shared between them,” means according to whatever they stipulate. One of them may be more skilled than the other, and so he may stipulate a larger share of the profit, while the other receives less. Or they may be equal and divide the profit equally between themselves.

His statement, “Each of them is the agent of the other,” means that, even if they do not explicitly appoint one another as agents, the nature of this partnership requires each of them to act as the other’s agent.

His statement, “and guarantor for him with regard to the price,” means a guarantor in the sense of one who is liable. That is, he is a guarantor liable for payment of the price, as they say. Since the seller sold to them on the basis of both their reputations, he considers each of them liable on behalf of the other. Thus, if one of them were to flee, for example, after the partnership contract had been concluded, leaving the other behind, the seller may hold the one who did not flee liable.

If he says, “We are partners, and my companion who fled owns one-half,” he will be told: “But each of you is a guarantor for the other.”

His statement, “Ownership is shared between them according to what they stipulate,” means, for example, that if they say, “One-third belongs to Zayd and two-thirds to Amr,” there is no problem. Likewise, if they say, “One-quarter belongs to Zayd and three-quarters to Amr,” there is no problem; or, “One-half belongs to Zayd and one-half to Amr,” there is no problem.

His statement, “and the loss,” means financial loss.

His statement, “is according to the proportion of their respective ownership shares,” means that if they agree that Zayd is entitled to one-third and Amr to two-thirds, and the capital incurs a loss, then Amr bears two-thirds of the loss and Zayd one-third, because losses are borne in proportion to capital in all forms of partnership.