What is the ruling under Sharia and statutory law concerning a stipulation that requires one partner to bear all losses to the exclusion of the other?
Legal Answer
Radiif AI Legal Assistant
⚡ Quick Answer:
A stipulation requiring one partner to bear all losses to the exclusion of the other, commonly known as 'Shart al-Asad' (Lion's Share Clause), is considered null and void under both Sharia and statutory law, and thus, it produces no legal effect.
Legal References & Citations
- يستبعد في منافسات التوريد أو المنافسات المختلطة المشتملة على بنود توريد، العرض الذي لم يلتزم فيه المتنافس بالقائمة الإلزامية. وفي حال كانت المنافسة قابلة للتجزئة، فتستبعد البنود التي لم يلتزم فيها ا...
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