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Sunan Ibn Majah 2501 (Book 17, Hadith 11) #31855
No Pre-Emption for Partners

SUMMARY: There is no right of pre-emption for a partner when his co-partner has already made a deal before him.

It was narrated from Ibn 'Umar that the Messenger of Allah said: "There is no pre-emption for a partner when his co-partner has beaten him to it (in another deal before), not for a minor nor one who is absent".
حَدَّثَنَا سُوَيْدُ بْنُ سَعِيدٍ، قَالَ حَدَّثَنَا مُحَمَّدُ بْنُ الْحَارِثِ، عَنْ مُحَمَّدِ بْنِ عَبْدِ الرَّحْمَنِ بْنِ الْبَيْلَمَانِيِّ، عَنْ أَبِيهِ، عَنِ ابْنِ عُمَرَ، قَالَ قَالَ رَسُولُ اللَّهِ ‏ "‏ لاَ شُفْعَةَ لِشَرِيكٍ عَلَى شَرِيكٍ إِذَا سَبَقَهُ بِالشِّرَاءِ وَلاَ لِصَغِيرٍ وَلاَ لِغَائِبٍ

TOPICS
partner  *  deal  *  istisaar  *  shaarik  *  qirad  *  preemption

QUICK LESSONS:
Respect the rights of others even if they are absent or minors; Be honest and trustworthy in business dealings; Maintain good relationships with others through fair dealing; Uphold justice and fairness in all transactions.
EXPLANATIONS:
This hadith explains that partners do not have the right to pre-empt each other in deals. This means that if one partner has already made a deal with someone else, the other partner cannot claim any rights over it. The hadith also mentions that this rule applies to minors and those who are absent as well, meaning they do not have any rights either. This hadith teaches us the importance of fairness and justice in business dealings, as well as respecting the rights of others even if they are not present or are minors. It also encourages us to be honest and trustworthy in our dealings with others so we can maintain good relationships with them.

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