Book of Partnership
512 — They unanimously agree that a valid partnership is for each of the two partners to contribute an equal amount of capital—whether in dinars or dirhams—then to pool the two sums so that they become one indistinguishable fund, on the basis that they may buy and sell whatever merchandise they deem fit, that any profit belongs to them both (1), and that any loss is likewise shared between them. When these conditions are met, the partnership is sound.
513 — They unanimously agree that neither partner may buy or sell without the other, unless each of them authorises his colleague to act as he sees fit. If they do grant such authorisation, each stands in the place of the other and may act alone in buying and selling until his partner revokes the permission.
514 — They unanimously agree that if either partner dies, the partnership is dissolved.
515 — They unanimously agree that a partnership formed with goods in kind is not valid. Ibn Abī Laylā alone dissented, saying, “It is valid.” (2)
Book of Pledges
516 — They unanimously agree that offering collateral as a pledge is permissible both while travelling and while resident. Mujāhid alone dissented, saying, “It is not permissible while resident.”
517 — They unanimously agree that a pledge is not effected unless the pledged item is taken into the pledgee’s possession. If the pledgor refuses to deliver the pledged property so that the pledgee may take possession, he is not compelled to do so.
518 — They unanimously agree that the pledgor is prohibited from selling, gifting, donating in charity, or removing the pledged property from the custody of the pledgee until the pledgee’s right has been fully satisfied.
519 — They unanimously agree that the pledgee may prevent the pledgor from having sexual relations with a slave-girl who has been put up as collateral.