Documenting the company's contract in Islamic jurisprudence - Egyptian law and the Saudi system

Document Type : Original Article

Author

Faculty of Law - Mansoura University

Abstract

Praise be to Allah, we praise Him and seek His help and forgiveness, and we seek refuge in Allah from the evils of ourselves and the evils of our deeds, whoever is guided by Allah is not misled by Him, and whoever is misled is not guided by Him, and I testify that there is no god but Allah alone who has no partner, and I testify that Muhammad is His servant and Messenger, may God's prayers and blessings be upon him and his family and companions and those who followed them with charity until the Day of Judgment, but after. Companies occupy a great position in transactions between individuals, although they are fewer in number than individual traders,  As they play a fundamental role in the economy far exceeds that played by individual projects, companies are the best form of carrying out large and medium projects, and the importance of companies increases with the succession of times, their importance today far exceeds the role they played before. Companies have existed since ancient times, and the jurists have been exposed to the method of writing the company's contract, so some of their books came pictures of the character of writing, including what Imam Al-Sarkhasi reported by saying: The entitlement to profit in the way of the company is sometimes with money and with work at other times, as evidenced by speculation, the owner of the money deserves his share of the profit with his money and the speculator with his work. That contract is a leasing company with evidence that it is not binding, and that it does not need to indicate the duration. Since the company's goal is to carry out a financial project aimed at profit, the partners must cooperate in providing the necessary capital to carry out this project. The company's capital consists of the sum of the cash and in-kind shares provided by the partners, and these shares alone constitute the general guarantee for the company's creditors since they can be valued in money, and therefore can be subject to forced execution, and the share provided by the partner is in fact the essence of the company and the basis on which its project is based, and it means, in short, every advantage provided to the company that can be evaluated in money. 

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