Temple near Beirut
Thoughts from Iraj Toutounchian’s Islamic Money & Banking, Integrating Money in Capital Theory
This is a contract between the owner of a ‘tree and the like’ and an Amel, against a clear-cut share of the yield, which includes fruit, flower petals, and so on. Again, the constituent parts of Mosa’qaat can be separated into tree, labor, yield, and time period. The ‘tree and the like,’ which form the subject of an agreement must possess the following characteristics:
- The trees and plants should be such as have gone into the ground and be capable of staying in the ground for more than one year. It then follows that vegetation and plants of a seasonal nature, which naturally last less than one year, cannot be the subject of such a contract.
- Non-yielding trees, which do not give fruit, cannot be the subject of a Mosa’qaat agreement unless their…
View original post 112 more words