Corporations and Partnerships with Respect to Ribbit: Difference between revisions
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Corporations and Partnerships with Respect to Ribbit (view source)
Revision as of 20:24, 29 June 2020
, 29 June 2020→Obligation of the Agent to Watch the Money
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====Obligation of the Agent to Watch the Money==== | ====Obligation of the Agent to Watch the Money==== | ||
# The agent investing the money on behalf of the investor is considered a paid watchman ([[shomer]]) since he is being paid for his work.<ref>Shulchan Aruch Y.D. 177:5</ref> | # The agent investing the money on behalf of the investor is considered a paid watchman ([[shomer]]) since he is being paid for his work.<ref>Shulchan Aruch Y.D. 177:5</ref> | ||
# If the agent is paid to spend all of his time working on investing the money then he isn't allowed to invest for himself on the side. If he does and profits, those profits belong to the investor.<ref>Shulchan Aruch Y.D. 177:29, Netivot Hamishpat CM 176:20, Chelkat Binyamin 177:234</ref> | |||
# The agent must invest all of the funds and even though half or a portion is considered a loan that doesn't mean that the agent can use it for his personal expenses. Furthermore, he may not even leave the money in a security deposit instead of investing it.<Ref>Shulchan Aruch Y.D. 177:30</ref> | |||
====If the Agent Breaks the Stipulations==== | ====If the Agent Breaks the Stipulations==== | ||
