What is the ruling of Islamic law regarding a partnership between two parties, where one party contributed most of the capital, and they agreed that the profits would be divided between them in thirds, but the company accumulated debts? Is it permissible for the party who contributed less to stipulate receiving a 20% share in exchange for their management and expertise, while still retaining two-thirds of the profits? And what is the right of the party who contributed the capital in terms of management?

This company is an 'inan' partnership (profit-sharing partnership), and it is invalid because the profit share for each of you was not specified at the time of the contract. The partners agreed on the capital but did not agree on the profit, and this leads to ignorance ('Jahala') and uncertainty ('Gharar'), which invalidate the contract. Therefore, this partnership must be dissolved, and the profit and loss should be distributed according to their capital contributions. They should then settle the work between them, so each of them receives a fair wage for their work. This wage should be determined by experts or specialized courts.

If the two partners wish to continue, it is necessary to draw up a new partnership contract that specifies the capital and the profit share for each of them, along with defining the work required of them.

As for the partner's promise to bear the loss from selling shares, the preponderant opinion is that he is obligated, both religiously and legally, to fulfill his promise. This is because the promise was contingent on a reason, and the promisee incurred expenses as a result of the promise. The obligation can be fulfilled either by carrying out the promise or by compensating for the actual damage incurred.