Silent Partnership: Liability for Loss of Goods Stolen in a Silent Partnership

Practical Laws of Islam as per the teachings of Imam Khamenei

Silent Partnership: Liability for Loss of Goods Stolen in a Silent Partnership

English:

Question #1887:

A person took a sum of money from another by way of a silent partnership. It was agreed that the working partner takes two thirds of the profit and one third goes to the owner of the money. The working partner bought goods and sent them to his hometown. On the way, the goods were stolen. Who should bear the loss?

Answer #1887:

The loss of capital or trading money wholly or in part shall be borne by the owner provided that the working partner, or any other party, is not to blame for acting unjustly. However, it is defrayed by the profit unless it was agreed that the working partner bears the loss.

-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Silent Partnership