by rescission (iqala) when it is in the interest [of the partnership], for he may purchase something he discovers he was deceived in. It is possible that he does not have the right to do so if we say that it is an annulment (faskh), because annulment is not part of trade. If he says to him: "Act according to your opinion," it is permissible for him to perform everything that falls under trade, such as entrustment (ibda'), speculating with the wealth (mudaraba) (39), entering into a partnership with it, mixing it with his own wealth, traveling with it, placing it in deposit (ida'), selling on credit, pledging (rahn), taking a pledge, and rescission, and the like; because he delegated to him the discretion in the disposal that the partnership requires, so everything that is part of trade is permissible for him. As for that which involves taking possession without consideration, such as gifting, reduction [of debt] without benefit, lending, manumission, entering into a contract of manumission for a slave (mukataba), marrying them off, and the like, he may not do it; because he only delegated to him the work based on his opinion in trade, and this is not part of it.

Section: If one of them takes wealth for a mudaraba contract, its profit is his, and its loss is upon him, to the exclusion of his partner; because he is entitled to that in return for his labor, and that is not from the wealth in which they are partners. Our companions have said regarding mudaraba: If he enters into a mudaraba contract for another man, he shall return what resulted from the profit into the first partnership, if there is harm in it to the first [partner]. Similar treatment applies here.

Section: Partnership is among the permissible contracts; it is invalidated by the death of one of the two partners, his insanity, his being placed under interdiction for prodigality, and by rescission by one of them; because it is a permissible contract, so it is invalidated by that, like agency (wakala). If one of them dismisses his partner, the dismissed one (41) is dismissed and has no right to dispose [of the assets] except to the extent of his share, while the one who dismissed him has the right to dispose of the whole; because the dismissed party has not retracted his permission. This is if the wealth (42) is in the form of liquid currency (43). If it is merchandise (ard), the Qadi mentioned that the manifest [meaning] of the words of Ahmad is that he is not dismissed by the dismissal, and he has the right to dispose [of it] until the wealth becomes liquid, like the mudarib (agent) when the owner of the wealth dismisses him. It is appropriate that he should have the right to dispose of it by selling, but not by exchanging it for another commodity, or by disposing of it in a way other than that which makes it liquid.