How can one withdraw from a contracting company for which a commercial register has not yet been issued and which has not yet commenced its operations, given the lack of capital, and what are the obligations arising from this before and after the issuance of the commercial register? Is it permissible to demand that the shares be sold to the partner?
A Muslim seeks the religious ruling concerning their acts of worship and transactions. The capital of a partnership must be a tangible asset, not a debt. A partnership is not permissible except with readily available funds. It is not permissible for the capital of a partnership to be unknown, or estimated vaguely (juzāfan), nor is it permissible for it to be with absent funds or a debt, because it cannot be immediately disposed of. A partnership is one of the permissible contracts; it becomes void upon the death of one of the partners, or their insanity, or their interdiction due to foolishness, or by dissolution initiated by either of them. If both parties agree to dissolve the partnership, and one of them wishes to buy the other's share, there is no harm in that if the conditions of sale are met.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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