text:
Hi guys,
Has anybody come across a good tool or even a Google spreadsheet to record usability errors.
Page, error, fix, severity etc.
HiThere was an excel sheet used on one of the slack chats here, I am not at my computer at the moment but @HAWK might be able to link to it? It's really good.
Thanks, i'll have a look on Slack.
Due to the 10k message limit that channel no longer has content (it was the heuristics study one).That document would have come from @Lukcha though, so I'll tag him in.
Here's the super simplified Google Docs sheet we used in the Heuristics session on Slack: https://docs.google.com/spreadsheets/d/1Ov0kP8MNy1gK8eGNvU1H4N4cSyke64IE2xeKCJeDYI4/edit?usp=sharing
It's based on a standardised set of heuristics I came across in @gerry's "The Usability Kit" many years ago.
That's the one I meant Thanks guys!
Thanks Luke.
I've created something similar that seems to work well for my needs so far.Will evolve it as I go.
Guys, thank you! I needed this!@paddy Can you share yours too, if it is not a problem, of course.
Hi there,
Here you go, blank google doc version.
Thank you!


text:
Wessex FM News
New Salvation Army Shop opens
6:57am 24th September 2014
The Salvation Army are increasing their work in the local community by opening up a new shop in Dorchester today.
They've moved into a new, bigger premises on Trinity Street.
It means not only will they be able to sell more stock - but they'll have a second floor where they'll run activities.
Jamie Slater, their community development manager spoke to Wessex FM;
"We're going to have a couple of days a week where the seniors can come in, and play board games and meet new friends. They can also have coffee and tea for just £1. Then another couple of days a week, we'll be running craft workshops where people can learn new skills."
There's also another side of their work they'll be able to expand on, which you might not know about.
Jamie explains;
"Elderly folk that go into Dorset County Hospital in the middle of the night who don't have family in the local area, we provide them with clothes and toiletries as its important they have dignity."
The charity also provides hundreds of Christmas presents for children every year, as well as food parcels for the homeless.
Sign up for the latest local news direct to your inbox

subset: commoncrawl


text:
Edit Article
wikiHow to Expand and Collapse in Microsoft Word
Many web pages have "Click for More"-type buttons; when you click on the button, the page reveals more information. How can you achieve this effect in Microsoft Word documents?
1You can achieve this effect using a "macrobutton field", a bookmark, and some <acronym title="Visual Basic for Applications">VBA</acronym> code.
2First, select the part of the document you want to show when the button is clicked.
3On the Insert tab of the ribbon, click Bookmark.
4Give your bookmark a name. e.g. TextToShow
5Place the cursor where you would like your button to appear. Make sure that it is not within the bookmark area.
6Create a field by typing Ctrl-F9. You should see curly brackets {} with the cursor blinking inside
7Type: MACROBUTTON MYMACRO Show
8Type Alt-F9 to hide the field codes. Now you should just see the word Show
9Open the Visual Basic editor by typing Alt-F11
10Double-click on This Document under YourDocumentName > Microsoft Word Objects in the Project pane.
11Create the macro. In the code window, place the following code:
Sub MYMACRO()
ActiveDocument.Bookmarks("TextToShow").Range.Font.Hidden = Not ActiveDocument.Bookmarks("TextToShow").Range.Font.Hidden
End Sub
12Now try clicking on the word (button) Show. Each click should hide or show the text.
Community Q&A
How do I expand all bookmarks? I accidentally hid words and I can't find them now.wikiHow ContributorPress shift+ctrl+8 (on the number row above QWERTY, not on the numpad) to display formatting markers and hidden text. If you don't see the hidden text straight away, hit ctrl+F for find, click in the 'Find what' box so your cursor appears there, and press ctrl+shift+h, which will set it to find hidden text. You can then use 'find next' to go around the document locating your hidden text. If you want to unhide hidden text, you can highlight it and then press shift+ctrl+h. That toggles hidden on and off, so the same key combination will hide it again. shft+ctrl+8 is also a toggle command, so if you want the formatting marks/hidden text undisplayed, press it again.
Ask a Question
200 characters leftSubmit
- Alternatively you can use the 3rd-party Word add-in More Addin with which you can add collapse/expand segments to your document with one click.
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Español: expandir y contraer en Microsoft Word, Italiano: Espandere e Comprimere in Microsoft Word, Русский: развернуть и свернуть текст в Microsoft Word, Português: Expandir e Recolher no Microsoft Word
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Skip to comments.ARM, AppliedMicro and Red Hat Aim to Develop 64-bit Server Platform.
Posted on 10/29/2012 7:47:40 PM PDT by Ernest_at_the_Beach
ARM, Red Hat, and Applied Micro Circuits Corp. on Thursday announced a collaboration that aims to develop a 64-bit server design platform to lower the total cost of ownership (TCO) of cloud computing, data centers and enterprises.The platform will enable makers of servers to quickly adopt ARM hardware and software architecture in their products.
We are excited to support AppliedMicros innovation as it develops 64-bit ARM powered server system-on-a-chips. ARMs business model is centered on partnership, and this collaboration is a further example of ARM ensuring that a compelling software ecosystem coalesces. The ecosystem will enable the industry to take full advantage of the device innovation and integration underway for deployment in the server market, said Tom Cronk, deputy general manager of processor division at ARM.
The server platform will be compliant with ARMv8 architecture and will utilize Red Hat Linux operating system. The platform will be based on the AppliedMicro X-Gene server-on-chip (SoC) that has been purpose-built for cloud and enterprise server deployment to deliver unprecedented low power, high performance and integration, with the goal of changing the way servers are designed for cloud, data center and enterprise applications.
(Excerpt) Read more at xbitlabs.com ...
Man the system is slow,....maybe needs an ARM server in feontof things.
Can we get half a dozen or so for FR?
The chip vendor who can deliver scalable performance with less power is going to win in the datacenter in the long run.
AMD never wins these battles with Intel, but their innovation spurs Intel to get out of their comfy little world and actually do something new.
Intel released "Atom", and as one who has been in the computer industry for nearly 30 years (and as a proper disclaimer, I must admit I now work for them)....any who count Intel out always wind up in the tech graveyard. The resources of Intel are nothing short of phenomenal, even if they're a bit slow to react to certain industry trends at times. They always "wake up"....and omg do they catch up and fast.
Let's just say I'd never, ever want to compete directly with 'em.
Oh, agreed.
I think back to when AMD designed in some high-bandwidth memory interfaces into their chips - before AMD did this, Intel had bifurcated their CPU's into a 'desktop' and 'server' product, and only the server products had high-bandwidth memory.
AMD's use of technology that was originally designed for the DEC Alpha in the Athlon put Intel on notice that AMD was going to expose how weak the memory path was in the "desktop" chips... and Intel reacted by dispensing with the hobbling of the desktop CPU's.
I give AMD lots of credit for innovation, but sadly, their corporate management has a talent for bitterly disappointing investors. They just don't know how to manage their numbers with Wall Street.
Even more profound.....when Opteron embedded the memory manager directly into the proc. Kicked Intel's ass for a while, especially in my field (high performance computing, aka "HPC", aka in the older days "supercomputing").
Never again. They got caught with their trou around their ankles and will never, ever let that happen again. They're years ahead, technologically, of the competition. That's a fact.
Different times, different company, different approach to business. I have huge admiration for the outfit....especially their cast-in-stone principles taught to ALL employees about always doing the right thing. Keep it honest, open, above board....or be fired. I happen to like that a lot.
Doesn't Intel have 64 bit processors. Sun and IBM.have had then for yeasts. What is the Atom all about? Isnt the Itanium still Intel's best chip?
Yes, I agree. Intel has had a couple periods where they slouched off or let their focus be diverted, but on the whole, they're a technology leader. No one without the resources of a government can now hope to go up against Intel in fab technology, and without a modern fab, there's no way to compete with Intel's time to market or their ability to spin and then re-spin a chip.
Their corporate culture is also pretty good, I agree. When I had to deal with them, they were upfront and honest about what they had and what they were doing. They didn't waste our time by blowing sunshine up our backsides. One of our requirements was "more cache, less FPU" - because, quite frankly, in those days when we booted a chip in a router, we turned off the FPU if we could. We wanted it to throw an exception any time someone used floating point, so we could hunt down the n00b who put FP instructions in the code and smack them with the "clue stick."
Intel told us rather forthrightly that they were never going to deliver a x86 chip that was quite like what we wanted in that application, so we ended up continuing with MIPS and Motorola. I was personally lobbying for PPC and the new IBM cellular chip architectures that would have allowed us to create chips with a lot less design time in our own house, but I lost that argument. I still think the PPC is one of the slickest chip architectures out there - much more slick than most other RISC chips.
Yes, Intel has the Itanium... but you'll likely never see or use that chip architecture on a desktop.
I can explain a bit about Itanium; I'll try to keep it high-level, since most people don't know the gory guts of CPU or computer architecture.
First, some background:
Most CPU's are what are known as "vertical" architectures. You execute one instruction... and then sometime later in CPU clock time, you fetch and execute another instruction. You plod along, going forward in CPU time, fetching, decoding and executing instructions.
OK, that's the old days. Now, modern CPU's can speculative fetch instructions out ahead of the current instruction you're executing and start setting up addressed, caching memory and pre-computing results. This is all very complicated and sexy as hell. In the Intel x86 products, this is accomplished by not having the CPU execute x86 instructions directly - the x86 instructions are effectively emulated and there is a "RISC-like" CPU instruction set, which Intel doesn't divulge outside the company, which is being used to break apart x86 instructions into "micro-operations" which are then scheduled out ahead of the current instruction. As I said, very sexy, very complicated. This pre-execution effectively allows for instruction-level parallel computing in the CPU. We're talking Erin Rogers in the second season the Buck Rogers sexy right here.
Why did they do this? Because the x86 instruction set became a barrier to higher performance, just as the VAX-32 and IBM S/370 instruction sets became barriers to higher performance in those architectures. The VAX is pushing up daisies, and IBM has done their own very spooky stuf to the 370.
But... there's another way to create a CPU with parallelism - where the CPU is doing more than one thing at once, and this is called "horizontal" architecture.
Insert spooky theme music here...
Instead of having small instructions which we stack in a succession in clock time, we can stack multiple instructions into one word, make each instruction complete within one clock cycle and allocate multiple decode/ALU blocks against each part of the word that is fetched. This is commonly known as "VLIW" or "Very Long Instruction Word" architecture. I worked on one such chip at cisco... and I'm here to tell you that while they sound really suave on paper, the actual implementation makes your brain hurt.
First, there are the concurrency issues when you have multiple instructions within the word asking the memory controller or bus to setup and lock multiple addresses at the same time. Then there are compiler issues - we've spent 20+ years working on RISC vertical CPU compilers, and the industry has that technology down pretty well. Most vendors have pretty much quit rolling their own compilers and they just use GCC as a starting point and work on the instruction scheduling and back-end issues.
Well, with a horizontal architecture... you're not able to neatly leverage all those years of instruction-level optimization and scheduling that have been perfected in compilers. Now you have to re-think how you optimize code in the compiler back end... and it's a bear. It really is. The guys I worked with who were working on a compiler for the horizontal architecture chip sometimes said they thought that dropping acid might be a good way to make progress on re-thinking some of this stuff.
The net:net result in the CPU market comes down to this: Software rules the day. The huge installed base of software on the x86 architecture now crowds out nearly all other CPU architectures because the cost to replicate what you can get off the shelf by going with the x86 architecture is huge. I'm talking billions of dollars huge.
HP and Oracle just finished litigating an interesting case: Oracle dropped support for the Itanium - and HP sued them over this, claiming breach of contract. HP just won this case, and the court ruled that Oracle has to keep producing software to support Itanium for HP-UX customers for awhile to come.
Microsoft and Red Hat (Windows and Linux, respectively) have announced end-of-life for their development of OS support of Itanum.
With the future architecture of x86-64, there's no reason to keep banging heads against the VLIW rock wall. It's going to become another legacy system that disappears into the mists of computing history soon... much as the iAPX-432 architecture chipset that Intel produced back in the 80's did.
Xeon's, Jack. Sorry, but you're way behind the times. Itanium is the past, in a big way. Currently Sandy Bridge....soon Ivy Bridge. Awesome 64-bit procs. Intel has had 64-bit procs for years.....don't take this as mean or an attack....but I'm guessing you've been in the biz, so where've you been the last decade?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.


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Feb 12, 2011 - 11:55 am
Hi everyone:
He is married with two children, (twins age 5). His wife has some psychological issues and she is not very high functioning (?autistic/mild MR). He is probably somewhere on the aspergers spectrum himself but not formally diagnosed. Anyway, although I have always been his main support, since he was diagnosed, I have been completely involved with doctor appts., etc. I am also his health care proxy. The whole situation is a big mess, and I feel like it is completely on me. If he isn't able to care for the children, it is doubtful that his wife will be able to take care of them by herself. And, I think we may be getting to that point sooner rather than later. We also have two other brothers, both of whom are married and live out of state. They visit maybe once a month but I could use a bit more help from them with everything and am starting to feel angry with them for them not doing more.
The other thing is my brother has become so angry. I know it is at the cancer, but he is yelling at his wife, the kids, and me and this, too, is taking its toll on everyone. He refuses to take an antidepressant or to allow services into the home. I am trying my best to be supportive of him, but even at this point, he won't speak about making any arrangements in the event that he is not around at some point. I am already getting so tired, and I know that the worse is still to come. He keeps making statements like, "I guess I am not important enough for them to do something....I know they can do something but they would rather let me die"......and so on........ I think that at this time, they may be able to do brachytherapy at the site of the main tumor but not sure because he already had lots of radiation to that area. If not, then maybe a different chemo, but realistically, I don't know how much longer chemo will hold off his cancer.
The other thing is that they live about 1 hour from me and have NO other support. The last time he had to go to the hospital, instead of calling rescue, he made his wife get the kids up at 7am and bring him to the hospital. They had to stay there until I was able to relieve them because he fears being in the hospital by himself. During his surgeries, I slept in the room at the hospital with him the whole time. Last night he was constipated and had me on the phone refusing to hang up for three hours until the mag citrate started working and he saw output in his colostomy. I don't mind, but at the same time, this is taking its toll on me and I somehow wish he would be able to find some peace and cherish his time with his family rather than being angry all the time.
Thanks for listening to me vent....I know this was long and kind of all over the place.....there is just so much going on.
Feb 12, 2011 - 12:25 pm
My favorite story is about a fellow who complained about having a million things to do and his wise old friend (the locale varies - the one I heard was in Vermont) said, "my advice is to do them one at a time."
Pick the one thing you think is most important or most critical (it has to be something you can actually act on, not "cure him of cancer") and chip away at that. While you love your brother, it sounds like your main concern is his kids. Rather than approaching him about "making arrangements" you might consider doing all the steps to make the arrangements for the kids and presenting him simply with the document to sign (with a witness) - if you are in a state that requires notarization, you might consider doing it when he is in the hospital, as they always have a notary handy. You can either talk to a lawyer or work with the on-line resources (like nolo.com) - I suggest the lawyer if you can possibly afford it.
Your approach: I love you and I want to help take care of you, but I can't do that while I'm worried about what could happen to your kids. Given the situation with his wife, he really should have done this anyway, even if he didn't have cancer. Folks do get hit by buses and such.
BTW, if you work with a lawyer, he will also suggest your brother pick an executor other than his wife. That person could be you as well (if so, you might want to have him designate a second person to oversee the finances, so you are not seen by your other brothers or his wife as "grabbing everything.") - this would help make sure his wife's financial future is secure.
Once you get that done, you can address the anger issue. That's a tough one - auspergers types are not good at self-delusion, which gets the rest of us by sometimes. He might not see the point in cherishing his last days and he might really not care if his anger makes you all uncomfortable - he's the one dying and you get to live. You might need to settle for doing as much as you can to shield his kids from it.
I'm not hopeful about getting more help from your other brothers, timewise. However, you might get them to kick in for a lawyer and go with you to support you when you get your brother to sign papers.
Good luck - and don't apologize for venting. That's what we are here for.
Feb 13, 2011 - 11:25 am
Hi DrMary:
Feb 14, 2011 - 3:11 am
I am very sorry to hear of your brothers dx, strength usually comes in numbers, but when it is only one some how you become stronger, Even though your brother is angry, he knows you love him or you would not be doing what you do for him, it's a sad situation when children are involved, and the mother may have some sort of mental impairment, you are a great sister and if you are in it for the long haul, I also suggest getting those documents signed and taken care of before thing go any further.


text:
Doda (Jammu), Dec 14 (ANI): At least two militants have been killed in a fierce encounter with security forces in Jammu and Kashmir's Doda District today.
According to sources, a joint operation of the police and the army was launched after a tip-off was received that in the Chamal-Chilli area, 190 kms from Jammu, last night eight militants were hiding in the area.
The encounter took place this morning. (ANI)


text: Human Rights Observatory Indonesia: Kopassus conviction small step towards ending impunity Headline Title: Indonesia: Kopassus conviction small step towards ending impunity 05 September 2013 The conviction of eight Kopassus (Special Forces Command) soldiers today is a step towards ending impunity In Indonesia, but also highlights how military courts are not fit to try its own soldiers for human rights violations, Amnesty International said. Three Kopassus soldiers were convicted of the premeditated murder of four unarmed detainees at Cebongan prison outside Yogyakarta on 23 March this year and sentenced to between six and 11 years' in prison. The men will be appealing…Read complete article© Amnesty International - Thursday, September 5, 2013


text:
Pointers and Multi-dimensional Arrays
Now we will see what is the relationship between the name of the array and the pointer. Suppose we have a two-dimensional array:
char multi[5][10];
In the above statement, we have declared a 'char' type array of 5 rows and 10 columns.
A multi-dimensional array is stored in the memory in a series i.e. the elements of first row and first column and then the elements of the second row and coloumn and so on.
As discussed above, the array name points to the starting memory location of the memory allocated for the array elements. Here the question arises where the 'multi' will be pointing if we add 1 to 'multi'. We know that a pointer is incremented by its type number of bytes. In this case, 'multi' is an array of 'char' type that takes 1 byte. Therefore, 'muti+1' should take us to the second element of the first row (row 0). But this time, it is behaving differently. It is pointing to the first element (col 0) of the second row (row 1). So by adding '1' in the array name, it has jumped the whole row or jumped over as many memory locations as number of columns in the array. The width of the columns depends upon the type of the data inside columns. Here, the data type is 'char', which is of 1 byte. As the number of columns for this array 'multi' is 10, it has jumped 10 bytes.
Remember, whenever some number is added in an array name, it will jump as many rows as the added number. If we want to go to the second row (row 1) and third column (col 2) using the same technique, it is given ahead but it is not as that straight forward.
Remember, if the array is to be accessed in random order, then the pointer approach may not be better than array indexing. We already know how to dereference array elements using indexing. So the element at second row and third column can be accessed as 'multi[1][2]'. To do dereferencing using pointers we use '*' operator.
In case of one-dimensional array, '*multi' means 'the value at the address, pointed to by the name of the array'. But for twodimensional array '*multi' still contains an address of the first element of the first row of the array or starting address of the array 'multi'.
See the code snippet to prove it.
/* This program uses the multi-dimensional array name as pointer */
#include <iostream.h>
Now, look at the output below:
The value of multi
is: 0x22feb0
It is pertinent to note that in the above code, the array 'multi' has been changed to 'int' from 'char' type to avoid any confusion.
To access the elements of the two-dimensional array, we do double dereferencing like '**multi'. If we want to go to, say, 4th row (row 3), it is achieved as 'multi + 3' . Once reached in the desired row, we can dereference to go to the desired column. Let's say we want to go to the 4th column. It can be done in the following manner.


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Topic: Anything might trigger him and she would pay for everything (Read 1419 times)
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Anything might trigger him and she would pay for everything
May 19, 2015, 08:28:56 AM »
She was waiting, like she did every day, naked on the bed on all fours for her man to come home from work. Hypersensitive as she was to his moods, she could tell by the way he slammed the front door shut that he had had a very crappy day. She started instinctively to pool saliva in her mouth in order to give him the very best of all can-I-kiss-it-better blowjobs.
She waited absolutely still as he took his time eating the dinner shed left out for him before assuming position upstairs. This waiting was a daily ritual during which he expected her to properly ready her mind to absolute submission. He was generous to grant her these moments so she would have a chance to will her cunt to get wet for what was to come.
When the stairs started creaking under his considerable weight she arched her back as much as she could to thrust her ass well up in the air. Everything would have to be perfect today for her to have any hope of changing his mood for the better.
Her cunt was ticklish and twitching and she hoped he would be satisfied with how wet she was when he would inspect it. If he wouldnt be satisfied things might turn very painful very quickly.
Nothing however went according to the usual rituals. He didnt stop to strip. He didnt stop to inspect her cunt. He didnt walk around the bed to order her to part her lips for his sweaty cock. He didnt say anything but she could tell he was seething with violent, volatile anger.
He tried to snatch a hold of her neck and she did the stupidest thing she could have done under the circumstances and flinched away from him. With a furious growl he grabbed her hair with both hands and yanked her off the bed so hard that she flew a full yard through the air and hit the floor, shoulder first, with a loud clunk. Before she had the chance to figure out that the world had spun upside down and she was now on the floor, he was kneeling astride her, pinning her against the floorboards. His weight on her body forced stomach acid up into her esophagus and she tried desperately to swallow down the burning fluid.
Ssssslut! he hissed and jabbed his forearm across her throat. As she squirmed he leaned more and more weight on the arm until her breath started to wheeze.
Please, she croaked but he pressed down even harder until she couldnt breathe at all.
You know what a man definitely doesnt want to hear on his lunch break? A man does not want to hear his workmates assessing whether the best ride on his fucking girlfriend could be had fucking her mouth, her cunt or perhaps her asshole. A man does not want to hear his workmates laughing that his girlfriend looks like such a slutty, filthy little thing that shes sure to beg to get a man to fuck her up her horny little asshole. A man DOES NOT want to hear his workmates call to him across the diner asking which is looser, his girlfriends cunt or his girlfriends asshole because shes visibly so fucking randy that she cant possibly be tight anymore after all the cock shes had!
As he ranted on his voice grew louder and louder until he was shouting at her so uncontrollably that spittle landed on her face and in her gasping, open mouth. You fucking slut! The way you were laughing and flirting at the Christmas party, eagerly shoving those fat tits of yours at the guys faces, wiggling that ass at anyone who cared to have a look! No wonder theyre talking!
They both knew she had done no such thing but the concept of facts was of no consequence when he got like this. Anything might trigger him and she would pay for everything.
She was thrashing under him, panicking when he wouldnt let her breathe, mouthing desperately Help! and Please! and Im sorry! She tried to claw his arm off her throat but he was too strong, too strong.
Remember that god damned dress you insisted on wearing!? he yelled. The one your tits almost spilled out of!? Well they sure remember, YOU FUCKING SLUT! You want to act like a whore!? Fine! Ill treat you like one!
When he finally lifted his arm she gasped on the floor, flailing with her arms, coughing, helpless, acid bubbling into her mouth. The first punch landed just below her breasts and winded her before she had barely started to catch her breath. Her instincts told her to curl into a ball but he was atop her, furiously raining punches on her torso. He hit her so hard her bones hurt but when she dared to lift her arms to shield herself he slammed her hands on the floor so hard she thought hed broken her knuckles.
The first punch he aimed at her face split her lip, she second made her nose bleed and the third almost knocked her out, rendering her too weak and dazed to even scream anymore. She was half-aware that he got up and thanked god that it was over. But it wasnt. He yanked her from the floor and threw her against the wall to wake her up.
Wakey wakey, slut! he jeered at her, but every time he hauled her on her feet she collapsed back on the floor. He prodded her with the tip of his foot and, when she didnt react, aimed a sharp kick at her thigh. She didnt move and he started slapping her face over and over to get her eyes to focus on his naked, erect cock but she was too out of it. Come on bitch, time to suck some cock! he yelled and slapped harder, and harder, and harder, until he realized he had balled his fist at some point and was beating her up again.
Shit! he swore at his unconscious victim and dragged her impatiently to the bed. He threw her over it so that her legs dangled over the edge and he had easy access to both her holes. He took a minute to undress. The blood from her nose had spilled on the floor and smeared all over her. It was still running but he wasnt content until she was bleeding from her crotch, bleeding from where sluts and whores deserved to bleed.
He yanked her thighs apart and punched her hard on her cunt but she made no other reaction than a weak, pathetic mewing sound. He shoved in two fingers, then three, then four. He forced his thumb in as well and started pushing, brutally forcing his fist to sink into her despite there not being even the slightest trace of wetness on her now. The pain made her come to a little, and when he started forcing his knuckles past her pelvic opening she started screaming.
Take it, cunt, he huffed. Take it and scream. Scream for me. Scream for daddy. Scream all you want. Nobodys going to hear you. Nobodys coming to help.
And scream she did. She screamed when his fist plunged through the gap in her pelvic bones. She screamed when he fucked her brutally with the fist, punching her cervix to bruises. She screamed when he set to work stretching her open, twisting his hand deep inside her battered body. She screamed when he dug his fingernails in the walls of her vagina and scratched til she bled. She screamed when he yanked his bloody fist out and shoved a hard and bulgy wrought iron candlestick in its place. Her screeching grew hoarse and ragged when he fucked her mercilessly with the candlestick: quick, hard, fast - too fast for his eyes to even see the individual strokes in the dim room.
Wiggle that ass now! Wiggle, bitch! Show me those fat fucking titties! he yelled and yanked her around to lie on her back, stroking his cock as he took in the sight.
Her limp legs lay splayed open and the absurd grotesqueness of the candlestick jutting out from his girlfriends bloody cunt made him giggle with true amusement.
Come on you little slut, wiggle! he taunted her, failing to keep the laughter from his tone. He started slapping her naked breasts to get a reaction and when she didnt scream hard enough to satisfy him, he slapped harder. He kept slapping and slapping and woo-hooing at the hilarious sight of her round, heavy tits lolloping around, bouncing and jiggling comically.
Wanna make a spectacle of yourself to my workmates again?! he shouted and yanked the candlestick from her cunt. Go on, bitch, WIGGLE! he yelled, brandishing the candlestick above his head.
But she didnt wiggle. She didnt even scream anymore. She just mewed and drooled and bled on the mattress. Her face was swollen and bruised, her hair matted with blood and honestly, she looked like shit.
I was going to fuck you, but you know what bitch? No mans going to wanna fuck a messy slut like that. But dont you worry, Im gonna give you a little something so you can make yourself pretty again.
He reached for the heap of clothes on which his pants lay. Coins flew out, clinking all over the floor, when he tore his wallet open and took out a wad of bills. He threw her over onto her stomach again and, as soon as she was lying prone, yanked at her hips until she was, in a fashion, presenting her ass for him again. Her asshole peeked out from between her fleshy buttocks and without ceremony he pushed both his thumbs deep into her ass and stretched her wide open. She mewed in protest but was too exhausted and stupefied to do anything about this new pain, this new invasion. Yank-yank-yank he pulled her brutally wider and wider until he was sure she would gape just enough. He rolled the bills lengthwise into a long, tightly-packed tube and started feeding the dry and scratchy stick into her asshole.
There you go, cunt. You earned it. Maybe you can buy a new slutty dress for the New Years party. Maybe one from which your tits really will spill out.
Before leaving her, he dragged her off the bed and into the bathroom. First he leaned her chest on the edge of the bathtub and then hoisted her legs over the edge, thumping her down onto the bottom of the tub.
Clean yourself up, he muttered and turned on the water.
She lay under the stream, waiting for the water to rinse off the blood, sweat and pain. He would come back. Soon. He always did. He would come for her, wrap her in towels and lift her up in his arms. He wouldnt leave her in the tub overnight. Her place was in his bed. She knew it. He knew it. He would lay her down on the mattress and push her legs apart. He hadnt cummed today and it was her duty to take his seed in her body every day and as many times as he wished, no matter how ill or sore she was. Just as it was her duty to weather and withstand his moods. Just as it was his duty to hold her and comfort her each time after he broke her.
Shed been largely unconscious through the worst of it but her insides were so battered that the pain was still there and getting worse by the minute. It wasnt going anywhere, not for a few days still, but she would adjust, she always did. Her ass felt strange but her body was too consumed by aches and pains for her to twist back enough to yank the bills out from her asshole. He would have to take care of that too.
Rapists should after all rape the victims exactly when, where and how the victim wants. That's how it works. Right?
1 Fap!
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Re: Anything might trigger him and she would pay for everything
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With the cost of medicine continually on the rise, Americans are taking their health into their own hands. One of the best ways to protect the health of your loved ones is to practice random acts of health. Here are some of my favorite strategies for keeping your loved ones strong and healthy! Lead by Example Being a role model is the most powerful way to influence the behaviors of people in your life. Numerous studies have shown a link between parents' behaviors and the behaviors of their kids. The same is true of healthcare professionals. Physicians who engage in a healthy lifestyle are more likely to have healthy patients. If you want those you care about to take care of themselves, first take care of yourself! Add Variety This sounds too simple to be effective, but it works. Behavioral research shows, time and time again, as variety increases, more food is consumed. This is true with both low-nutrition and high-nutrition foods. If you want your loved ones to increase their consumption of healthy foods, adding variety helps. Instead of just bananas on the counter, try peaches, apples, pears, oranges, berries, etc. This strategy works well with all kinds of healthy foods. Trade TV Time According to a report by the Nielson Company, the average American spends 34 hours per week watching television. Those 34 hours represent a golden opportunity for improving your health. Trading TV time for physical activity is a huge step in the right direction. Research has also shown that increasing physical activity increases other healthy behaviors (such as healthy eating). I like to think one good decision leads to another! Partner Up Psychologists recognize that people who practice healthy behaviors with others are more likely to sustain those behaviors. Having a partner allows you to socialize while adding accountability and support. Try meeting for a walk, workout, bike ride or healthy meal. Partnering up on a weekly or monthly basis adds ongoing support and accountability. I like partnering up for both physical activity and healthy meals. Just Add Veggies An easy way to sneak vitamins, minerals, fiber and other nutrients into your diet is to add vegetables to your favorite dishes. One of my favorites is a vegetable pizza. At 5 to 10 calories per ounce, you can add volume and nutrition while keeping calories low. Adding veggies to the standard pizza lowers the calorie per ounce value by about 30%. I usually add a specific number of cups – such as 4 cups and then go for what I like (broccoli, green pepper, mushrooms, onions, etc.). This strategy works with soups, casseroles, stews, sandwiches and just about any recipe. Make it a Team Effort When you join a fitness center together, you are more likely to attend. We see this with our members. Couples (family members, friends and spouses) are more likely to work out together and by themselves. The team approach adds support, accountability and socialization. These are powerful ingredients when you are practicing a behavior that can literally save your life! Walk and Eat Walking to a local restaurant is a great way to add spontaneous physical activity to your week. Eating in restaurants usually involves waiting for a table, waiting to be served, waiting for your food and waiting for the check. This can add hours of inactivity to your day. A short walk to a local restaurant will burn calories and create some synergy (get you thinking about healthy choices) with your meal. Pack Your Bags Stash healthy snacks everywhere. Stashing healthy snacks into a book bag, lunch bag or briefcase supports spontaneous healthy eating. Many of our food choices are spontaneous. By practicing this behavior you increase the odds your loved ones will munch on healthy snacks. Donate Your Time Our fast-paced, modern lifestyles can leave loved ones busy and overworked. A great way to lighten their load is to donate your time. In other words, offer to do a chore so they can take care of themselves. The free time they gain can be applied towards a variety of healthy behaviors - including relaxing - something we could all use more of. Stay Home One of the easiest ways to improve your diet is to eat at home. Numerous studies show that Americans consume more calories and salt and less fiber when they eat out. Eating at home is an easy way to cut calories and improve nutrition. By keeping your meals simple (such as sandwiches and a salad) you can save both calories and time.
It's been months since your last workout and your diet stinks. Even worse, the environment you live in makes it nearly impossible to live a healthy lifestyle. In recent years, America has been referred to as a paradise of energy conservation! We never need to run, rarely do we need to walk, and we can often sit for extended periods of time without ever having to move. In fact, the U.S. Department of Health and Human Services reports that the number of Americans who engage in no physical activity has increased significantly in recent years. At the same time, the quality of our food supply continues to decline. According to Dr. Kelly Brownell, professor of psychology atYaleUniversity, "Americans live in a toxic food environment." Dr. Brownell says that we are over-exposed to low nutrition, high- calorie foods and that the pressure to eat is enormous. High-calorie foods that provide little nutrition are aggressively marketed with no consideration for how this will impact the health habits of Americans. Despite these overwhelming odds, there is hope! Small changes can make a real difference with your health. Build Minutes, Not Miles Despite overwhelming evidence linking physical activity to better health, few Americans are embracing the advice to be more active. One of the most significant barriers reported is a lack of time. Unfortunately, most people believe that physical activity needs to be performed over long periods of time in order to be beneficial. Despite what most people believe, there is strong evidence linking short bouts of physical activity to better health. The American College of Sports Medicine, the U.S. Surgeon General and the Centers for Disease Control and Prevention recommend approximately 30 minutes of physical activity on most days of the week. They also acknowledge that dividing your physical activity into shorter bouts (three ten-minute walks versus one thirty-minute walk) provides the same health benefits as longer bouts. This is good news for those of you who are too busy to complete a full 30 minutes at one time. Therefore, in contrast to what most Americans think, it does make sense to build minutes, not miles. This means you should take advantage of the small calorie-burning opportunities you get throughout the day. Given that the real issue is compliance, I suggest customizing your approach to include both long and short bouts of physical activity. Simplifying your approach to daily physical activity can help you achieve the health benefits you've missing for years. By Richard J. Wolff, RD, LDN


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Design, instrumentation, and testing of a steel containment vessel model / prepared by V. K. Luk [and four others].
Record details
- Physical Description: 1 online resource (various pagings) : illustrations
- Publisher: Tokyo, Japan : Systems Safety Department, Nuclear Power Engineering Corporation ; February 2000.
Content descriptions
|General Note:
| Title from title screen (viewed on July 15, 2016).
"Manuscript completed: February 1999; date published: February 2000."
"T. Hashimoto, NUPEC project manager."
"J. F. Costello, NRC project manager."
"Performing organization: Sandia National Laboratories"--Bibliographic data sheet.
|Bibliography, etc. Note:
| Includes bibliographical references.
|Type of Report and Period Covered Note:
| Technical; 6/92-5/98.
|Funding Information Note:
| Sponsored by the Systems Safety Department, Nuclear Power Engineering Corporation DE-F104-91AL73734
Sponsored by the Division of Engineering Technology, Office of Nuclear Regulatory Research, U.S. Nuclear Regulatory Commission A1401
Search for related items by subject
|Nuclear pressure vessels > Models.
Nuclear reactors > Containment.


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GeekGirlCon 2013
Oct 19 - Oct 20, 2013
Eighth Avenue at Pike Street
Seattle, WA 98101 Map
More Info
Join us for our third annual convention! Geek out with GeekGirlCon, October 19th and 20th, 2013, at the Conference Center in downtown Seattle. {e_description}amp;lt;a href="http://www.geekgirlcon.com/"{e_description}amp;gt;GeekGirlCon{e_description}amp;lt;/a{e_description}amp;gt; is a non-profit, volunteer-powered organization dedicated to recognizing and celebrating the contribution of women in all aspects of geek culture. Connect with us on {e_description}amp;lt;a href="http://www.twitter.com/geekgirlcon"{e_description}amp;gt;Twitter{e_description}amp;lt;/a{e_description}amp;gt;, {e_description}amp;lt;a href="http://www.facebook.com/GeekGirlCon"{e_description}amp;gt;Facebook{e_description}amp;lt;/a{e_description}amp;gt;, or {e_description}amp;lt;a href="http://www.geekgirlcon.com/category/press_releases/"{e_description}amp;gt;our blog{e_description}amp;lt;/a{e_description}amp;gt; and meet other geeks at events throughout the year (and of course at our annual convention)! {e_description}amp;lt;b{e_description}amp;gt;For a Two-Day Pass: Choose the *second* "Saturday, October 19th" date from the drop-down menu.{e_description}amp;lt;/b{e_description}amp;gt; Minors under 16 need to be accompanied by a paying adult. Kids 4 and under are free with the purchase of an adult pass. Support GeekGirlCon and get your GeekGirlCon '13 pass, goodies, expedited registration, and year-round discounts to awesome businesses at the same time! {e_description}amp;lt;a href="http://www.geekgirlcon.com/get-involved/individual-sponsorship/"{e_description}amp;gt;Become an Individual Sponsor today{e_description}amp;lt;/a{e_description}amp;gt;. {e_description}amp;lt;i{e_description}amp;gt;Passes to GeekGirlCon are non-refundable.{e_description}amp;lt;/i{e_description}amp;gt;
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text:
2007 Chevrolet Aveo - Consumer Review
Build Quality
Reliability Value
Build Quality
Reliability Value
run far run fast don't buy an Aveo
By RunAwayFromAVEO on
Vehicle2007 Chevrolet Aveo 5 LS 4dr Hatchback (1.6L 4cyl 5M)
ReviewBought it pre-owned but it was certified. Had it tested at Chevy dealership and they said a good car for the money. Only had it 3 years drive it in Houston to and from work and so far have replaced throttle body assembly 3 times, replaced both front struts at 34000 miles as they were leaking, had an oil leak, replaced shifter assembly & sensor most recently as car would not shift out of park. to day car has been in shop for repairs 14x since April 2008. Not including regular maintenance which I do regular. Purchased this as I needed a reliable car good on gas to go to and from work. A HUGE DISAPPOINTMENT & BIG MISTAKE. tryign to work something out with GM & Chevy and so far no results ;-(
Best Featuresfold flat seat in the hatchback allow me to fit my 2 large breed dogs. That is about the only feature. I should have bought a Honda Fit, Nissan Versa or a Toyota Yarus.
Worst FeaturesChevy should recall all the Aveo's and buy back from owners. At least with the Toyota recall they are doing something to help the owners.
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text:
Been using Fritzing past few days with the hope that "finally" I found the PCB program I've been looking for for the past 25 years.
FACT --There are dozens of programs to choose from but NOTHING in between very basic and 2000.00 professional suites that require almost day to day use to understand the software. And trust me, I've TRIED THEM ALL. There is NOTHING out there worth a damn and this has been frustrating for years.
The one that comes closest is Sprint layout 6.0 which is the most recent one I've been using but it doesn't give the schematic option like Fritzing does.
The online programs are all nonsense because you're locked into THEIR services. Express PCB has a fantastic little program BUT I need it on my PC ! And generate gerber files. Money isn't the issue but someone needs to do it right for < 100.00
Eagle, I could name them all past and present and they ALL have at least ONE thing that keeps you from using it.
Board size limitations, pin count, just plain difficult to use -- they're all crap.
I think Fritzing is on to something with their software but I'm leaving it because of ONE issue --
Manipulating wires (traces) with these silly bendpoints to make connections is ridiculous -- a real pain. You should just be able to connect trace to pin or trace to trace in a snap and be done with it.
I think the guys at Fritzing should take what they have now (because I really love the "feel" of the software vey much) and do something geared toward the advanced hobbyist in a commercial venture, Sure, keep the current software free with donations but maybe do something seperate towards those of us looking to spend a hundred bucks or so on something that "does it all" with an easy learning curve. Plus it needs to generate machine files for assembly. Like I say, nothing worth using exists between heavy duty pro and very basic programs.
Anyway -- there's my vent.
The history of Fritzing: http://friends.fritzing.org/
I think there on to something with it but the wire/trace thing drove me nuts -- Diptrace (which I downloaded yesterday) may prove to be my only alternative but extreme overkill for an occasional PCB designer. It is somewhat easy to grasp though.
I'd buy a program designed like Fritzing that is very intuitive but with more of a semi pro feel.
PRO, simi-pro, or versioned software should come as 100% open-source keeping with tradition. But do remember Fritzing is still Beta software for a reason.
Manipulating the bend point(s) on a more complex board has more then it's benefits. I understand It's a bit different concept, which could possibly have other features added to it in the future.. Thanks for your suggestions and comments.


text:
KIA Store Clarksville is now accepting applications for Car Pros.
The Car Pro is responsible for the sale of new and used vehicles. The position requires an individual with excellent people relation skills, product knowledge, and sales ability in following the dealership sales system. Must be capable of acquiring total product knowledge and maintain that knowledge, demonstrate professional behavior, generate and maximize unit sales.
We are open for business Monday - Saturday, closed Sunday.
Benefits include:Company Health Plan, 401(k), paid vacations, employee pricing, drug free workplace, EEOE.
Alex Caldwell, General Sales Manager
KIA Store Clarksville
826 E. Lewis and Clark Pkwy
Clarksville, IN 47129
(812) 288-4200
KIA Store Clarksville is now accepting applications for a Care Pro.
The Care Pro will assist the Car Pro with completing paperwork and following up with the customer throughout the sale process.
Qualifications:Excellent people relation skillls, demonstrate professional behavior, and ability to follow the dealerships sales system.
Benefits include: Company health plan, 401(k), paid vacations, employee pricing, drug free workplace, EEOE.
We are open for business Monday - Saturday. Closed Sunday.
Alex Caldwell, General Sales Manager
KIA Store Clarksville
826 E. Lewis and Clark Pkwy
Clarksville, IN 47129
(812) 288-4200
KIA Store Clarksville is now accepting applications for an experienced Parts Counter Person/Driver.
The primary function of the Parts Counterperson is to handle retail and wholesale parts needs at the counter for internal and outside demands, including telephone inquiries and reqeust. Parts Driver delivers and picks up parts and equipment for the dealership. Individual must represent the dealership in a friendly, professional way; a neat clean presentation of appearance is expected.
Working conditions: This is a physically demanding position. Individual will move throughout the Parts area all day, reaching and climbing to obtain parts in inventory. Will stand 6-8 hours during a shift. When delivering parts to the Service department, will be exposed to noise, dust, exhaust fumes, paint, and other hazardous and non-hazardous materials. Driver will drive company provided vehicle 6-8 hours per shift. Will lift and transport parts weighing up to 70 pounds several times a day.
Benefits include. Company Health plan, 401(k), paid vacations and holidays, employee pricing, drug free workplace, EOE
*Experience in automotive parts industry
*Excellent driving record
*Background check
*Drug Test
Miles Rucker,
Parts Manager
@ 826 East Lewis and Clark Pkwy,
Clarksville, IN 47129
(812) 288-4200
The KIA Store of Clarksville now has an opening for a Lube Tech
The Lube Tech will be responsible for lubricating cars in a quick, yet thorough manner, and for carrying out the responsibilities through coordination with the Service Advisor.
Perform all lubrication services.
Perform thorough check of customer's vehicle (i.e., battery, lights, tires); referring all needed repairs and preventive maintenance to Service Advisor.
Operate and maintain all lubrication equipment.
Lubricate entire vehicle while looking for other items, which may need repair.
Make certain all equipment is in proper working order, especially the lifts.
Ensure customer's vehicle is kept clean.
Knowledge in all aspects of automotive repair and maintenance. Valid driver's license and a good driving record, manual dexterity, and good judgment. Must also pass pre-employment drug test and background check.
Company Health Plan, 401(k), paid vacations and holidays, drug free workplace, EEOE, employee purchase plan.
Please contact:
Katie Thompson,
Service Advisor
@ (812) 288-4200
826 East Lewis and Clark Pkwy,
Clarksville, IN 47129
KIA Store Clarksville now has an opeing for a Body Shop Technician. The Body Shop Technician repairs and refinishes damaged body parts and bodies of vehicles in accordance with factory and dealership specifications, using hand tools, and spray painting equipment. Technician will also do dealer prep work.
Qualifications: Ability to read and comprehend instructions and information. Working knowledge of all aspects of repairs for damaged body parts and bodies of vehicle.
Technical Responsibilities: Stay up-to-date on the latest repair methods and techniques for the vehicles sold and serviced by the dealership. Follow factory and dealership procedures when performing warranty work. Is familiar with the latest technical bulletins, service manuals, and other service publications. Participate in all in-dealership service training activites. Must provide your own tools.
Benefits include: Company health plan, 401(k), paid vacations and holidays, drug free workplace, EEOE
Steve Heun
@ (502) 962-3264,
5325 Preston Highway,
Louisville, KY 40213


text:
Apevia X-Supra Blue Special Edition ReviewA Closer Look - Outside »
Apevia packages the case in a full color cardboard box with a white and green backdrop. The two large sides show the two versions of the case. Both smaller sides have images of the different color and windowed variants. In our case, there is a large silver sticker with mentions "Special Edition". This case comes with no fan and no window, resulting in a solid side panel.
The case itself is protected by Sytrofoam spacers and a simple heavy duty plastic bag. Considering the price, this is nothing out of the ordinary. On top of that, all mirror finish parts are covered with a thin plastic film, to further protect it from scratches.
Besides the case you will find a manual and a brown cardboard box with the needed HDD rails and screws.


text:
All Android applications categories
UC Browser Apk is simple yet powerful and better browser. Download UC Browser 8.7 the Perfect browser for your Android device.
Requirements: Android 2.1 or higher
Overview: UC Browser, simple mobile, better browser! The choice of 300 million users!
UC Browser 8.3 for Android: Simple Mobile, Better Browser
Increasing your browsing speed after you've run out your high speed traffic through cloud acceleration!
-Best Mobile Browser Awards 2011 – About.com
-Best Android Browser Awards 2012 -- About.com
*Rate us 5 starts if you like it, any problems please use our feedback function so that we can reply to you directly
"In a nutshell, UC Browser merges usability, simplicity, fast navigation and good-looking layout. It's what a mobile browser should be." by Androidzoom.com
-Better stability and performance: highly improved stability and performance. The start-up time of software itself reduced by 14.2% from last release (18.104.22.168), the memory use reduced by 34.1% from last release. Nevertheless, the CSS render and JavaScript render are 30% quicker than ever before.
-Night Mode: to help your eyes when browse in night;
-Smart Suggestions: when type in the address bar, you may see a lot of web addresses are pre-loaded for your choosing.
-My Shortcuts Rearrange: now you can move a My Shortcut from a position to another
-Volume Button Action: no matter change volume as default, scrolling page or switching tabs, volume button can do them well
Other improvements and features:
- Gadget is added to Hotlist.
- Save the original image instead of low-quality one.
- Images and pages would be found in Download Manager after saved.
- Showing Pinch-Zoom Button on pages is optional.
- Data clear before exit is optional
-Multi-touch: With the swipe of your fingers, you can open, close, switch , and going backwards and forwards much faster and easier when surfing the web.
-VOX(voice control): UC Browser, upon recognizing your voice, will take you to your destination automatically, without any use of the finger.
-RSS Reader: Integrated RSS reader allowing you to visit your favorite sites with one simple touch.
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text:
Central Proteinaprima is the world's largest fully vertically integrated shrimp producer and processor, as well as Indonesia's market leader in shrimp fry, shrimp feed and fish feed production.
I.Sales Executive
* Minimum S1 in marketing or other relevant field
* 1-2 year experience in sales, preferably in Fast Moving Consumer Goods
* Must have excellent communication skills
* Must be proactive and persistent
* Must have "C" driver license
* Applicants should be Indonesian citizens or hold relevant residence status.
II.Marketing Staff
* Minimum a Diploma or a Bachelor Degree preferably from Business Marketing
* Strong analytical skills
* 1-2 year experience in Marketing area
* High proficiency in Microsoft Office (Excel, Visio, and Power Point)
* Willing to travel extensively
* Willing to be relocated outside Jakarta
III.Corporate Communication Executive
The position is mainly responsible in performing various internal corporate communication tasks. This includes announcement, newsletter, employee gathering, and all form of corporate communication events.
* Flexibility to work under long hour work environment
* Minimum a Bachelor degree (S1) from a prestigious university
* One to two year experience on similar positions
* Have experience in the production of a range publicity materials including electronic and paper-based media.
* Outgoing personality
* Good communication skills
* Ability to meet multiple deadlines
* Excellent computer skills including Microsoft Office applications, Microsoft Publisher and Page Maker
In your application, you must specify your most significant achievements at your current job, how your career has progressed and reasons for your promotions.
Please email your CV to firstname.lastname@example.com
PT Central Proteinaprima Tbk (CPP Head Office)
Wisma GKBI, 19th Floor Jl. Jend. Sudirman No. 28 Jakarta 10210.
Website: http://www.cpp.co.id
Put the position title as the subject of your email.


text:
SHIRKAH & ITS VARIANTS. LECTURE By Dr. Syed Zulfiqar Ali Shah. Summary of Last lecture. Securitization & Sukuk Potential of Sukuk in Fund Management and Developing the Islamic Capital Market Summary & Conclusion Introduction (Shirkah) Legality, Forms & Definition of Partnership
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Dr. Syed Zulfiqar Ali Shah
Securitization & Sukuk
Potential of Sukuk in Fund Management and Developing the Islamic Capital Market
Summary & Conclusion
Introduction (Shirkah)
Legality, Forms & Definition of Partnership
Basic Rules of Musharakah
The Concept & Rules of Mudarabah
Mudarabah Distinguished From Musharakah
Modern Corporations: Joint Stock Companies
Modern Application of the Concept of Shirkah
Diminishing Musharakah
Diminishing Musharakah as an Islamic Mode of Finance
Summary & Conclusion
Mudarabah is a special kind of Shirkah in which an investor or a group of investors provide capital to an agent or manager who has to trade with it; the profit is shared accordingto the pre-agreed proportion, while the loss has to be borne exclusively by the investor. The loss means a shortfall in the capital or investment of the financier. The loss of the agent (Mudarib) is by way of expended time and effort, for which he will not be given any remuneration. There is no restriction on the number of persons giving funds for business or any restriction on the number of working partners. As discussed in the case of Musharakah, profit cannot be in the form of a fixed amount or any percentage of the capital employed. Any ambiguity or ignorance regarding capital or ratio of profit makes the contract invalid. If a Mudarabah contract becomes invalid for any reason, the Mudarib will be working for the necessary period as a wage-earner and will get Ujratul-mithl (fair pay) for his job. He will not be given any share of the profit.
As evident from various books of Fiqh, the term Mudarabah is interchangeably used with Qir¯ad and Muqaradah. It is presumed that while the latter two originated in Hijaz, Mudarabah was of Iraqi origin. Subsequently, the difference appears to have been perpetuated by the legal schools, the Malikis and Shafi'es adopting the terms "Qir¯ad" and "Muqaradah" and the Hanafis using the term "Mudarabah".
Al-Sarakhsi, in his book Al-Mabsut, explains the nature of Mudarabah in the following words:
"The term Mudarabah is derived from the expression 'making a journey' and it is called this because the agent (Mudarib) is entitled to the profit by virtue of his effort and work. And he is the investor's partner in the profit and in the capital used on the journey and in its dispositions.
The people of Madina call this contract Muqaradah, and that is based on a tradition concerning 'Uthman, (Gbpwh), who entrusted funds to a man in the form of a Maqarada. This is derived from al-Qard, which signifies
cutting; for, in this contract, the investor cuts off the disposition of a sum of money from himself and transfers its disposition to the agent. It is therefore designated accordingly. We, however, have preferred the first term (Mudarabah) because it corresponds to that which is found in the book of Almighty Allah. He said: 'while others travel in the land (yadribuna fil-ard) in search of Allah's bounty,' that is to say, travel for the purposes of trade."
With regard to the legality of Mudarabah, Al-Marghinani says in Al-Hidaya:
"There is no difference of opinion among the Muslims about the legality of Qir¯ad. It was an institution in the pre-Islamic period and Islam confirmed it. They all agree that the nature of the Mudarabah business is that a person gives to another person some capital that he uses in the business. The user gets, according to conditions, some specified proportion, e.g. one-third, one-fourth or even one-half."
A number of sayings of the holy Prophet (pbuh) and reports by his Companions on the subject indicate that Islamic jurists are unanimous on the legitimacy of Mudarabah. The terms of the Mudarabah contract offered by the Prophet's uncle Abbas were approved by the Prophet (pbuh). Abu Musa, the governor of Kufa, wanted to remit public money to the Bayt al M¯al. He gave the amount to Abdullah bin Umar and his brother, who traded with it. The Caliph's assembly treated it as an ex post facto Mudarabah and took half of the profits earned by the two brothers, because the public money in their hands was not the loan. Caliph Umar also used to invest orphans' property on the basis of Mudarabah.
This practice was rather needed, since weaker members of society could not undertake long journeys for trading the way that most important professions of Arabs could at that time. Al-Sarakhsi, in this regard, says:
"Because people have a need for this contract. For the owner of capital may not find his way to profitable trading activity and the person who
can find his way to such activity may not have the capital. And profit cannot be attained except by means of both of these, that is, capital and trading activity. By permitting this contract, the goal of both parties is attained".
By allowing Mudarabah, Islam has intended to fulfil an important economic function by way of encouraging the hiring of capital and that of trade skills on judicious terms of risksharing, leading to the benefit of society and the concerned parties. The Mudarib has to work in various capacities like trustee, agent, partner, indemnifier/liable and even wage-earner if the contract becomes void. Being an agent to the Rabbul-m¯al, he undertakes the business and shares the profit.
There could also be multilateral and sub-Mudarabahs. A multilateral Mudarabah may take various forms. A number of financiers may make a contract of Mudarabah with a single person, or a financier may contract Mudarabah with more than one worker, severally or jointly. Similarly, a number of workers may associate in order to work for one or more than
one subscriber. As regards a sub-Mudarabah, there seems to be a unanimity of opinion that a Mudarib may give the Mudarabah capital to a third party on Mudarabah terms only if the financier has allowed it either in clear terms or has left the business of the Mudarabah to the discretion of the Mudarib. The absence of the owner's permission will make the former contract voidable.
Mudarabah, like other contracts, calls for lawful items of trade, failing which the contract will become void or voidable, as the case may be. Thus, a worker is not allowed to trade in wine or swine with the Mudarabah capital. The classical jurists generally restricted the use of Mudarabah to the act of trade (buying/selling), but an overwhelming majority of contemporary jurists and scholars allow the use of Mudarabah with a wider scope for use by Islamic banks as an alternative to interest-based financing. Mudarabah is a contract of fidelity and the Mudarib is considered trustworthy with respect to the capital entrusted to him. He is not liable for the loss incurred in the normal course of
business activities. As a corollary, he is liable for the property in his care as a result of the breach of trust, misconduct and negligence. A guarantee to return funds can be taken from him but can be enforced only in two situations: if he is negligent in the use of funds or if he breaches the stipulated conditions of Mudarabah. Hence, his actions should be in consonance with the overall purpose of the contract and within the recognized and customary commercial practice. In some situations, he becomes an employee when he performs some duty after the Mudarabah contract becomes invalid.
The Nature of Mudarabah Capital:
As described in the discussion on Shirkah, Mudarabah capital should preferably be in the form of legal tender money, because capital in the form of commodities may lead to uncertainties and disputes. The value of illiquid assets must be clearly determined in terms of legal tender at the time of entering into the Mudarabah contract and there should be no ambiguity or uncertainty about its value. It is not permitted to use a
debt owed by the Mudarib or another party to the capital provider as capital in a Mudarabah contract. This is because the capital to be given for Mudarabah business should be free from all liabilities. The conversion of debt into a Mudarabah is prohibited to safeguard against the abuse of usurious loan being camouflaged as a Mudarabah, where, in essence, the financier would possibly ensure for himself not only the recovery of his debt but also an illegal return on his loan under the cover of his share in Mudarabah profits. A financier cannot give the Mudarib two different amounts of capital with the stipulation that profit earned from one should go to him and from the other to the Mudarib. Similarly, he cannot specify different periods to state that profit earned in a specific period will be his and that of another period, the Mudarib's. It is also not allowed to stipulate that profit from a particular transaction should go to the financier and the profit from another transaction will belong to the Mudarib.
Mixing of Capital by the Mudarib:
A Mudarib is normally responsible for the management only and all the investment comes from the financier. But there may be situations where the Mudarib also wants to invest some of his money into the business of Mudarabah. In such cases, Musharakah and Mudarabahare combined. Jurists allow the Mudarib to add his own capital to the capital of Mudarabahwith the permission of the Rabbul-m¯al. If a Mudarib subscribes his portion of profit or a portion of capital in the Mudarabah business, he will become a partner to the extent of his subscription, in addition to his remaining a worker. His rights and liabilities will be governed by Musharakah rules so long as his capital remains part of the business to the extent of his share of subscription. For example, A gives $100 000 to a Mudarib B, who also invests his own funds amounting to $50 000. This is the situation where Mudarabah and Musharakahhave been combined. In this combined business, B (the Mudarib) can stipulate for himself a certain percentage of profit against his own investment and
another percentage for his work as a Mudarib. In the above example, he has invested one-third of the capital. Therefore, according to normal business practice, he will get one-third of the actual profit on account of his investment, while the remaining two-thirds will be distributed between them equally. However, they may agree on another ratio for distribution.
Islamic banks normally mobilize deposits on Mudarabah principles and invest them in the business. If a bank also provides funds, it is entitled to get a profit on its own capital in proportion to the total capital of the Mudarabah. In addition to such a share in the profit, the bank shall also be entitled to share the remaining profit as Mudarib in an agreed proportion. For example, depositors provide $2000 for Mudarabah and the bank contributes $1000 to the business, and it was agreed to share the profit in the ratio 50:50. Let us assume that the profit earned by the bank as Mudarib is $300. The bank will get $100 as profit on its own
investment of $1000. The remaining profit of $200 will be distributed between the bank and the depositors on the agreed ratio of 50:50. In other words, out of the profit of $200, the bank will get $100 and the depositors $100.
2. Types of Mudarabah and Conditions Regarding Business:
Mudarabah business can be of two types: restricted and unrestricted Mudarabah. If the finance provider specifies any particular business, the Mudarib shall undertake business in that particular business only for items and conditions and the time set by the Rabbul-m¯al. This is restricted Mudarabah. But if the Rabbul-m¯al has left it open for the Mudarib to undertake any business he wishes, the Mudarib shall be authorized to invest the funds in any business he deems fit. This is called un-restricted Mudarabah. In both cases, the actions of the Mudarib should be in accordance with the business customs relating to the Mudarabahoperations: the subject matter of the contract.
Accordingly, a Mudarabah contract can be conditional or unconditional. The conditions may pertain to the nature of the work, the place of work and/or the period of the work. Conditions binding the worker to trade with a particular person or in a particular commodity, etc. are, according to Hanafi and Hanbali jurists, permissible, but these make the contract a special Mudarabah.
It is not legally necessary that the financier directly makes a contract with the Mudarib. Thus, a banker may act as an agent to an investor and become a middle man doing business on the basis of investment agency (WakalatulIstism¯ar).
The financier has a right to impose conditions on a Mudarib, provided they are not prejudicial to the interests of the business and are not counterproductive to the purpose of the Mudarabah. For example:
He may fix a time limit for the operation of the contract.
He may specify the articles to be traded in or whose trade is to be avoided.
He may stop the worker from dealing with a particular person or a company.
He may stop the worker from travelling to a particular place or may also specify the place where trade is to be carried out.
He may ask the worker to make sure to fulfil his fiduciary responsibilities (but not profitability).
According to some jurists, he may also compel his worker to sell the goods if the bargain is profitable (while the worker wants to hold then).
He also has a right to stop the worker from contracting a Mudarabah with any other party.
The Mudarib, on his part, is bound to follow the financier's conditions. If he violates a restriction or contravenes a beneficial condition, he becomes a usurper and will be responsible in respect of capital to the capital owner. He is not entitled to sell the Mudarabah goods at less than
the general market price or buy goods for Mudarabah at a price higher than the common market price. He is also not allowed to donate Mudarabah funds or waive receivables of the business without explicit permission from the financier.
3. Work for the Mudarabah Business:
According to the majority of the traditional jurists, a financier in Mudarabah is not allowed to work for the joint business. He is not permitted to stipulate that he has a right to work with a Mudarib and to be involved in selling and buying activities, or supplying and ordering. However, he has the right to oversee and ensure that the Mudarib is doing his fiduciary duties honestly and efficiently.
It is only according to Hanbali jurists and, to some extent, Hanafi jurists that the owner is allowed to work for the business with the Mudarib. The reason for disapproval by the majority is that it jeopardizes the freedom of the worker to act according to his discretion. This classical
position is understandable if the basic idea that a person enters into a Mudarabah contract because he lacks business skill is presumed to exist. But if the financier also has skill and has contracted Mudarabah simply because he cannot do the entire work single-handedly, the rationale behind prohibiting him to work is not understandable. Moreover, it now seems more reasonable to allow the owner to ensure honesty and efficiency of the worker by taking a personal interest in the affairs of the business. Even some Hanafi jurists have allowed the financier's sale of Mudarabah goods if it is profitable.
In present circumstances, it can be left to the parties, who may agree on any role by the investor keeping in mind its impact on profitability of the joint business. After transfer of the capital by the financier, the Mudarib needs to be given independence for the normal conduct of business. However, the financier can impose restrictions on the Mudarib in terms of place, object and method of trade. He may also want to have quick and direct access to his capital and may, for instance, stipulate that the
Mudarib may trade within a certain marketing zone.
4. Treatment of Profit/Loss:
Both parties in Mudarabah are at liberty to agree on the proportion or ratio of profit-sharing between them with mutual consent. This ratio has to be decided at the time the contract is concluded. They can agree on equal sharing or allocate different proportions. A lump sum amount as a profit/return on investment for any of the parties cannot be allowed or agreed upon. In other words, they can agree on, for example, 50, 40 or 60% of the profit going to the Rabbul-m¯al and the remaining 50, 60 or 40 %, respectively, going to the Mudarib. Different proportions can be agreed upon for different situations. For example, the financier can say to the Mudarib: "If you deal in wheat, you will get 50 %, but if you deal in cloth, you will be given 40% of the profit. Or if you do business in your town, you will get 40% and if in another town, your share in the profit will be 50 %." Loss, if any, has to be borne by the financier. Loss means erosion of capital; no profit can be recognized or claimed unless the
the capital of Mudarabah is maintained intact.
The distribution of profit depends on the final result of the operations at the time of physical or constructive liquidation of the Mudarabah. Reserves can be created with mutual consent and if a Mudarabah incurs a loss, the loss can be compensated by the profit of the future operation of the joint business or the reserves created in the past. At the time of profit allocation, one partner can donate a part of his profit to the other partner(s). A financier can also award a good management bonus to a Mudarib. If losses are greater than profits at the time of liquidation, the balance (net loss) has to be deducted from the capital.
Profits are shared when they accrue, but this accrual does not mean a transaction-wise calculation of the profits; it means the overall adjustment of profits and losses over a particular period of time, which will be treated as the closing of the accounts but not necessarily the winding up of the business. However, the partners can provisionally draw the profit that will be subject to adjustment at the time of finalization of
of the accounts.
The Mudarib is entitled to a share of profit as soon as it is clear that the operations of the Mudarabah have led to the realization of a profit. However, this entitlement is not absolute, as it is subject to the retention of interim profits for the protection of the capital. It will be an absolute right only after distribution takes place. For valuation, receivables should be measured at the cash equivalent, or net realizable, value, i.e. after the deduction of a provision for doubtful debts. In measuring receivables, neither time value nor discount on current value for an extension of the period of payment shall be taken into consideration.
Parties can change the ratio for profit distribution at any time, but that ratio will remain effective for the period for which it has been mutually fixed. If the parties did not stipulate the ratio, they should refer to the customary practice, if any, to determine the shares of profit. If there is no customary practice, the contract will be regarded void ab intio and the Mudarib will get the common market wage for the kind and amount
of service he has rendered.
Although one party in Mudarabah cannot stipulate for himself a lump sum amount of money, the parties can agree with mutual consent that if the profit is over a particular ceiling, one of the parties can take the greater share of the profit and if the profit is below or equal to the stipulated ceiling, the distribution will be according to the agreed ratio. The profits realized from Mudarabah cannot be finally distributed until all expenses have been paid, in accordance with custom and the original agreement. Final accounting will be undertaken against the net profits of the Mudarabah operations. The part of profit of the Mudarib becomes secure after the liquidation of the Mudarabah and the capital owner recovers its capital and part of profit.
The Mudarib cannot claim any periodical salary or a fee or remuneration for the work done by him for the Mudarabah business over and above his share as agreed in the contract. However, Imam Ahmad has allowed the Mudarib to draw his daily expenses of food only from the
Mudarabah account. Hanafi jurists have also restricted the right of the Mudarib to claim expenses incurred during business journeys. The financier and the manager can enter into a separate agreement, independent of the Mudarabah agreement, for assigning any job that is not by custom a part of the Mudarabah business against a fee. This means that the Mudarabah contract will not be affected if the Mudarib is terminated from the service.
As a principle, in Mudarabah it is only the financier who bears the loss. However, if a Mudarib has also contributed capital, which he can do with mutual consent, he will bear the pro rata loss. If profit has been distributed upon constructive or actual liquidation of business, it cannot be withdrawn in order to make up for a later loss or for any other purpose. If loss has occurred in some transactions and profit has been realized in some others, the profit can be used to offset the loss at the first instance, then the remainder, if any, shall be distributed between the parties according to the agreed ratio.
5. Termination of a Mudarabah Contract:
The general principle is that Mudarabah is not a binding contract and each of the parties can terminate it unilaterally except in two cases: (i) when the Mudarib has already commenced the business, in which case the contract becomes binding up to the date of actual or constructive liquidation; and (ii) when the parties agree on a certain duration of the contract, in which case it cannot be terminated before expiry of that period except with mutual agreement. For termination, the Mudarib will be given time to sell the illiquid assets so that an actual amount of profit may be determined.
The unlimited power to terminate the Mudarabah may create difficulties in the context of the present circumstances, because most commercial enterprises today need time to bear fruit. Modern businesses also demand continuous and complex efforts. Therefore, if the parties agree, while entering into the Mudarabah, that no party shall terminate it during a specified period, except in specified circumstances, it does not
seem to violate any principle of Shar¯ı´ah, particularly in the light of the famous Hadith which says: "All the conditions agreed upon by the Muslims are upheld, except a condition which allows what is prohibited or prohibits what is lawful in Shar¯ı´ah."
If all assets of the Mudarabah are in cash form at the time of termination, and some profit has been earned on the principal amount, it shall be distributed between the parties according to the agreed ratio. However, if the assets of the Mudarabah are not in cash form, the Mudarib shall be given an opportunity to sell and liquidate them, so that the actual profit may be determined.
A restricted Mudarabah will automatically wind up after the object is achieved. If the Mudarabah is general, it will be in the interests of both parties to wind up at will whenever both of them mutually agree to do so. The difficulty may arise if one of the parties wants to continue business. Reconciliation on this point should be sought through a court or any arbitration.
Mudarabah is distinguished from Musharakah briefly on the following grounds:
The investment in Musharakah comes from all the partners, while in Mudarabah, investment comes from a person or a group of persons, but not from the Mudarib.
In Musharakah, all partners have a right to participate in the management of the business and can work for it, while in Mudarabah, the Rabbul-m¯al has no right to participate in management. With mutual consent, however, he can work for the venture. Further, the financier has the right to ensure that the Mudarib is doing his fiduciary duties in the true sense.
In Musharakah, all the partners share the loss according to the ratio of their investment, while in Mudarabah, the loss, if any, is suffered by the Rabbul-m¯al only. However, if the Mudarib has conducted business with negligence or has been dishonest, he shall be liable for the loss caused by his negligence or misconduct.
The liability of the partners in Musharakah is normally unlimited. However, if all the partners have agreed that no partner shall incur any debt during the course of business, then the liabilities exceeding assets shall be borne by that partner alone who has incurred a debt on the business in violation of the aforesaid condition. Contrary to this, in Mudarabah, the liability of the Rabbul-m¯al is limited to his investment unless he has permitted the Mudarib to incur debts on his behalf.
In Musharakah, profit can be distributed on an annual, quarterly or monthly basis by valuation of the assets. In the case of Mudarabah, final distribution can take place only after liquidation of the Mudarabah business. However, on account payment of profit is possible subject to ultimate adjustment. To avoid problems in perpetual Mudarabah, the contemporary jurists have accepted the concept of constructive liquidation of assets by determining the market value of nonliquid assets.
In Musharakah, all assets of the Musharakah become jointly owned by all of the partners according to the proportion of their respective investment. Therefore, each one of them can benefit from the appreciation in the value of the assets, even if profit has not accrued through sales. In Mudarabah, however, all the goods/assets purchased by the Mudarib are solely owned by the Rabbul-m¯al, and the Mudarib can earn his share in the profit only if he sells the assets profitably. However, there are some exceptions to this rule according to a minority view.
If the Mudarabah business is dissolved, its assets and profit, if any, can be distributed only after assessing its value in terms of money. In the case of Shirkah, this is not necessary.
Modern corporate bodies can be considered to be based on the concept of Shirkah al 'Inan or a combination of Musharakah and Mudarabah, which is allowed by the generality of the contemporary jurists. There are a number of forms of modern corporations, including joint stock companies with limited liability, joint liability companies (a form of personal partnership), companies limited by shares (also a kind of personal partnership), partnerships in commendum (a form of financing partnership), etc. The general principles governing these forms are the same and we will be discussing mainly the modern stock companies with limited liability of the shareholders.
The main ingredient of modern corporate business is the issuance of shares or certificates to the investors in a joint business. A large number of people provide funds and are issued any specific type of receipts that are called shares or a variety of certificates that represent the proportionate ownership of the shareholders. The AAOIFI Standard on Musharakah has defined a stock company as an entity, the capital of
which is distributed into equal units of tradable shares with limited liability of the shareholders to their pro rata capital. The rules relating to Shirkah al 'Inan are applicable to it except on the issue of the limited liability of the shareholders. In other words, shareholders are owners of the assets of the company to the extent of shares held by them. They can sell/transfer the shares to any other persons but have no discretion over the assets of the company.
A company incorporated by law is considered a juristic personality, and as such, cannot avoid its obligations to people dealing with it. This separates the liability of the company from the liability of the shareholders. The company's liability can be limited to its paid-up capital if it is made public in order to make the customers aware of its financial position. It involves a binding contract for continuity in terms of its Articles of Association. Therefore, no one is entitled to terminate the company in terms of his shares. However, a shareholder can sell his shares or relinquish title to them in favour of other people.
The capital contribution for subscription to shares can be made in a lump sum or in instalments. Unpaid instalments would constitute an undertaking to increase the share in the company subsequently. It is permissible to issue new shares in order to increase the capital, provided the new shares are issued at the fair value of the old shares – this can be at a premium, discount or at the nominal value of the shares. Preference shares having special financial characteristics that give their holders a priority for profit allocation at the time of the company's liquidation do not conform to the Shar¯ı´ah principles.
IFIs can purchase or sell shares of any company subject to the condition that the company is undertaking a Halal business. The price of the shares can be less or more than their nominal value, provided more than 50% of its shares comprise fixed assets, i.e. liquid assets (cash plus receivables) are less than 50 %. If the major business of any company is not against Shar¯ı´ah and some of its transactions involve un-Islamic elements, like dealing with interest-based institutions, its shares can also
be purchased, provided the part of income representing interest, if identified, is given to charity. One cannot sell shares that one does not own and a promise by a broker to lend a share to a short-seller at the date of delivery does not refer to ownership or possession of the shares. Shares can also be pledged, because anything that can be sold can also be given as pledge.
Shares that are gradually redeemed before the termination of the company only through the distribution of profits by the company do not conform to the Shar¯ı´ah principles. This is because the funds the certificate holders receive constitute profit in respect of their shares. The claim that the participations be redeemed in consideration for the distributed profit is invalid. Therefore, the certificate holders remain owners of the shares and are entitled to proceeds when the company is liquidated.
Preference shares, on the basis of which some of the partners in a concern are earmarked a fixed percentage of dividends, do not fulfil the
principles of Shar¯ı´ah. The basic principle of distribution of profit is that no gain can be had without undertaking to bear the risk of loss. In this respect, all the subscribing partners of a company should be treated alike, based on the number of shares held by them. Similarly, if any of the partners has been privileged to share in profits only without sharing in losses, the partnership contract is deemed to have become void due to the element of interest. The case of qualification shares is, however, different, as it determines the minimum extent of attention and devotion of the directors without any preferential treatment in pecuniary entitlement. Underwriting is a crucial part of the business related to modern corporations. A shareholder or any third party can underwrite an issue of shares without any consideration. The underwriter will undertake, by an agreement at the time of incorporation of the company or shares issue, to buy all or a part of the shares issue. It undertakes to buy the remaining shares at nominal value that are not subscribed through public or private placements.
The underwriter can charge for services provided, other than the underwriting, such as conducting feasibility studies or marketing the shares.
The actual rules of modern corporate business require more detailed analysis. Shares/certificates are floated for raising liquid assets. Trading in assets that represent the underlying assets is permissible as long as real assets and services constitute the majority of the total assets. As such, the instruments or shares represent only the money, they cannot be traded so long as the capital is in liquid form, i.e. in the form of cash raised or receivables or advances due from others. This is because the shares represent pro rata ownership of shareholders in the joint business/project. If the capital is still in liquid form, the shares may be sold only at face value, otherwise it would mean that money is being exchanged for more money, which is Riba. However, when the raised money is employed in purchasing nonliquid assets, like land, buildings, machinery, raw material, furniture, etc., the shares/Musharakah
certificates will represent the holders' proportionate ownership in these assets. In this case, it will be allowed by the Shar¯ı´ah to sell these certificates in the secondary market for any price agreed upon between the parties, which may be more or less than the face value of the shares/certificates, because the subject matter of the sale is a share in the tangible assets and not in money only; therefore, the certificate may be taken as any other commodity which can be sold with profit or at a loss.
Another major feature of the present corporate structure is that running projects are normally a mixture of liquid and tangible assets, e.g. in the form of raw material, fixed assets, inventory of finished goods, sales proceeds, receivables (that being debt is treated as liquid, like money), etc. The opinion of contemporary jurists regarding the Shar¯ı´ah position of trading in shares of entities having mixed liquid and nonliquid assets is different. According to the classical jurists of the Shafi'e school, combined assets of a business cannot be sold unless the tangible assets
are separated and sold independently. Hanafi jurists, however, are of the view that a combination of liquid and tangible assets can be sold/purchased for an amount that is greater than the amount of liquid assets in the combined assets. They prescribe no specific proportion of tangible assets to qualify for permission of such a sale/purchase. However, most of the contemporary scholars, including those of the Shafi'e school, have allowed trading in the shares and certificates only if the nonliquid assets of the business are more than 50 %, while some reduce this floor to 33 %.
The Concept & Rules of Mudarabah
Mudarabah Distinguished From Musharakah
Modern Corporations: Joint Stock Companies