Entering into a partnership

Submitted by user2 on Sat, 2020-01-18 07:22

Q: I am living in Dubai and I bought a limousine on instalments. I paid the down payment. I have a cousin who is working with me night shift. He did not pay anything for the limousin. I paid everything. Before buying the car, we agreed that we will share the profit half half end of the month. Now my question is, can I take a little more money?

A: Since you had purchased the car alone, the car belongs to you. If your cousin wishes to enter into a partnership with you, then he should also contribute towards the partnership and thereafter you both may mutually agree on the profit sharing.

And Allah Ta'ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

Category:

Business and Dealings›Partnerships

Disclaimer: The answer hereby given is specifically based on the question asked and should be read together with the question asked. Muftionline.co.za bears no responsibility to any party who may or may not act on this answer. Muftionline.co.za being hereby exempted from loss or damage whatsoever caused. Should the question refer to a matter in dispute between two parties, this answer may not be used in the dispute in question by either party unless the question was jointly submitted by both parties with an acknowledgement by both parties that the question was correct and accurate. This answer may not be used as evidence in any court of Law without prior written consent from Muftionline.co.za.

This is the standard version of the site.