Legal document: T-S K25.153

Description

Legal document. Partnership agreement. A deal between an investor, possibly named Ibrahim, and three unnamed indigo dyers opening a workshop in Damietta. The active partners agree to behave according to industry norms and business practices in Damietta. The active partners will receive two-thirds of profits and losses (except for the first ten dinars of losses due to ordinary business operations). The investor is responsible for the daily maintenance of the active partners and assumes responsibility for losses due to force majeure, though in such cases the active partner is required to swear an oath disclaiming negligence. Notably, the partnership structure is a hybrid of both the partnership model ("torat ʿisqa") and the commenda model. The active partners’ testament to “ward off treachery and fulfill good faith” indicates that the investor isn't present in Damietta, but he retains a modicum of control over their business activities. If the assets of the shop are found to have declined in value, the partners are to communicate with Ibrahīm and to follow his orders; if he fails to respond, they are free from liability for misconduct. (Information from Lieberman, "A Partnership Culture," 245-246)