Legal document: Moss. VII,17

Description

Recto: Draft of a legal document in the hand of Ḥalfon b. Netanel ha-Levi. Dating: 1133–36 CE (see PGPID 9140 for rationale). Partnership agreement. In this unsigned and undated draft, an unnamed active partner receives 200 dinars from Sibāʿ, with which he is to travel to Alexandria and transact in unnamed commodities. Sibāʿ agrees to share equally in all losses to the partnership as a whole (e.g. losses due to work stoppage or broken merchandise). Lines 12-16 indicate that if commodities may end up traveling for sale in Alexandria escorted by someone other than the active partner, the active partner should inform Sibāʿ. The risk of loss is wholly carried by Sibāʿ. The active partner’s testimony concerning profits and losses does not require the support of witness testimony. The active partner seems to be entitled to all profits except for the maintenance of Sibāʿ(excluding Sibāʿ's rent and education costs for his son). Sibāʿ's share of the profits – a fixed amount unrelated to the success of partnership assets – might contravene the rabbinic prohibition of usury, but he does bear responsibility for losses. The use of the first person throughout the document suggests that it was prepared and notarized for the active partner, as with powers of attorney. The active partner could then present it as supporting documentation in the event of a dispute concerning distribution of partnership profits. (Information from Lieberman, "A Partnership Culture", 97–98.) See also separate document record for verso.