I f the profit
be divided
previous to a
reftoration o f
the capital,
and any accident
afterwards
befal
the dock,the
managermuft
return the
portion of
profit he had
received.
The manager
is not relpon-
fible for deficiency
»
T h e profit
received by
the manager
is no way implicated,
with
becaufe the profit being a dependant, it is moft eligible to refer the lofs
to i t ; in the fame manner as a lofs In property fubjedt to Zakat is referred
to what is exempt *, and not to the adlual Nifdb, as th e ,exempt
property is a dependant of the Nifdb.
I f more than the profit be loft, the refponfibility does not fall on
the manager, as he is merely a truftee.
If the ftockholder and the manager divide the profit between
them, and continue the contrail in exiftence as before, and the whole
or part of the flock be afterwards loft, the manager muft, in that
cafe, return the profit to the proprietor, in order that he may appear
to recover this capital; becaufe a divifion of the profit previous to a reftoration
of the capital is not valid, fined the profit cannot be afeer-
tained until the proprietor fhall have recovered his capital; for the capital
is the principal, and the profit the dependant; and hence, when
what remained in the hands of the manager is loft or deftroyed, as he
is in this cafe fubject to no refponfibility, (it being only a trujl with
him,) it follows that what he and the proprietor had before taken
pofl'effion of is capital, and confequently that he is refponfible for the
portion he had taken, and that the portion taken by the proprietor is
alfo accounted as part o f the capital.
If, when the proprietor has received back the whole capital, any
excefs remain, fuch excefs muft be divided between him and the
manager, as being profit: but if there be a deficiency, no compenfa-
tion is due from the manager, as he is only a trufiee.
If the manager and the proprietor, having divided and taken the
profit, and annulled the contract of Mozaribat, fhould again enter
into a new contrail of Mozdribat, and the flock be afterwards loft.
* Arab. See V o !. I . p. 120.
i 4 in
in this cafe the profit gained upon the firfl: Mozdribat is not to be returned
to the proprietor, becaufe that Mozdribat was completed, and
the fecond Mozdribat is a new contrabl;—and the deftrudlion of the
flock of the fecond Mozdribat cannot affedt the firfi-,—in the fame
manner as if the proprietor fhould have given fome other property than
that which w,as the fubjedt of the former contrail to the manager;
in which cafe, if the faid additional property fhould be loft, it does
not affedt the contrail; and fo alfo in the cafe in queftion.
C H A P . IV .
Of fuch Ads as may lawfully be performed by
a Manager.
I t is lawful for a manager to fell the flock either for ready money,
or upon tru ft; becaufe thefe ails are in the nature of traffic, and, as
fuch, are included in an abfolute contrail.—The period of truft
however, muft not be extended beyond what is cuftomary amongft
merchants, (fuch, for inftance, as a period of ten years;) becaufe he
is only .permitted to ail according to the common pradtice and cuftom
of merchants; whence it is that he may lawfully pur chafe a quadruped
for conveyance; but he can only hire a boat-, for fuch is the cuftom
amongft merchants.
According to the Rawayet Majhhoor, a manager is at liberty to
give the privilege of trading to a Have whom he may have purchafed
with the flock, fince this is in the nature of traffic.
V ol. III. I i j F
refpeft to any
new contract
between the
fame parties.
A manager
may fell the
flock, either
for ready-
money, or
upon truft: