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Auction End Date
1/23/2007 11:21:30 AM (mm/dd/yyyy)
[Frankfort am Main?]
This listing is an independent item not part of any collection
Single sheet, 330:215 mm., age staining, creased on folds, few tears in margins.
Shetar Iska in German. A Shetar Iska gives the signatories the freedom to contract a partnership where one party provides the capital and the other the work. In order to avoid a situation in which the party furnishing the capital ultimately receives an increment on his investment which is in the nature of interest, there was evolved a form of transaction known as iska, i.e., "business," in which half of the furnished capital constitutes a loan to the "businessman," or active partner, and the other half is held by him in the form of a deposit (BM 104b and codes). The parties to an iska are free to stipulate as they please, provided that they observe the principle that the "businessman" must enjoy some greater benefit than the "capitalist," by way of remuneration for his services (BM 5:4). It would seem that the profits from the loan part of the capital belong to the businessman and the profit from the deposit part, after deduction of the former's remuneration, belong to the capitalist. Unless otherwise agreed upon, the businessman is to receive wages as a regular worker if he devotes himself entirely to the affairs of the business, and if not, he may be paid a token amount.
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Kind of Judaica