## Kitzur Shulchan Arukh Siman 66

###### Kitzur Shulchan Arukh 66:1
[Kitzur Shulchan Arukh 66:1](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:1)

הַנּוֹתֵן לַחֲבֵרוֹ מָעוֹת שֶׁיִּתְעַסֵּק בָּהֶן וְהָרֶוַח יִהְיֶה לַחֲצָאִין, וְגַם הַהֶפְסֵד יִהְיֶה עַל שְׁנֵיהֶם בְּשָׁוֶה, זֶהוּ נִקְרָא עִסְקָא וְאָסוּר, מִפְּנֵי כִּי הַחֲצִי מִמָּעוֹת אֵלּוּ הִיא מִלְוֶה בְּיַד הַמְקַבֵּל, שֶׁהֲרֵי הִיא בָּאַחְרָיוּת שֶׁלּוֹ וְהוּא נוֹטֵל אֶת הָרֶוַח, וְגַם הַהֶפְסֵד עָלָיו. וְהַחֲצִי הוּא פִּקָּדוֹן אֶצְלוֹ, שֶׁהֲרֵי הוּא בְּאַחְרָיוּת הַנּוֹתֵן, וְהוּא לוֹקֵחַ אֶת הָרֶוַח מֵחֲצִי זֶה, וְגַם הַהֶפְסֵד מֵחֲצִי זֶה עָלָיו. וְהַמְקַבֵּל שֶׁהוּא מִתְעַסֵק וְטוֹרֵחַ בַּחֲצִי הַפִּקָּדוֹן שֶׁהוּא שַׁיָּךְ לְהַנּוֹתֵן, זֶהוּ רַק מִפְּנֵי שֶׁנּוֹתֵן לוֹ אֶת הַחֲצִי בְּהַלְוָאָה, וַהֲרֵי רִבִּית וְאָסוּר. וְיֵשׁ הֶתֵּר לָזֶה, אִם הַנּוֹתֵן נוֹתֵן לְהַמְקַבֵּל אֵיזֶה שָׂכָר בִּשְׁבִיל הֶעָמָל וְהַטֹּרַח שֶׁהוּא מִתְעַסֵּק בְּחֶלְקוֹ. וְיֵשׁ לִקְצוֹץ, אוֹ שֶׁיִּתֵּן לוֹ מִיָּד בִּשְׁעַת נְתִינַת הַמָּעוֹת שְׂכָרוֹ. וְדַי אֲפִלּוּ בְּדָבָר מוּעָט (קעז).

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
Preface
If *Reuven* gives money to *Shimon* for investment purposes and they agree to divide the profits or losses of this investment, then, it is considered as if each invested half the money with each receiving the profits or losses from his respective half. Thus, the half of the money that is *Shimon's* responsibility is actually a loan to him to do with as he sees fit. The half that is *Reuven's* is considered a *pikadon* (פִּקָדוֹן), i.e., an object given for safekeeping from *Reuven* to *Shimon*. The result is that *Shimon* expends time and effort on *Reuven's* half, in return for the half that is on loan to him. This is *ribis*. The entire transaction is called *iska*.
If one gives money to another for a business, stipulating that the profits be divided equally and any loss incurred also be [shared] by both of them equally, this is called *iska* and is prohibited. [This is] because half of the money is considered a loan to the trader (recipient) for which he is responsible and out of which he receives the profits, and for which he also incurs the loss.² The other half is considered as a deposit for safekeeping, for it remains the responsibility of the investor,³ and he receives the profit from this half, and also incurs the loss from this half. The trader preoccupies himself and bothers with the *pikadon* half which belongs to the investor, only because he gives him half [the money] as a loan; this is *ribis* and prohibited. This transaction can be made legal by the investor giving the trader some compensation for the effort and bother [that he expends] when dealing with his share.⁴ [The compensation] should be set [beforehand], or paid immediately upon the transfer of the monies. Even a nominal payment is sufficient.

footnotes:
² Since this would be the status of any money on loan to him.
³ I.e., the original owner of the money.
⁴ By being compensated for his effort, it can no longer be said that the trader is working as payment for the loan of his own half of the money.


###### Kitzur Shulchan Arukh 66:2
[Kitzur Shulchan Arukh 66:2](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:2)

יְכוֹלִין לְהַתְנוֹת, שֶׁלֹּא יְהֵא הַמְקַבֵּל נֶאֱמָן לוֹמַר שֶׁהִפְסִיד מִן הַקֶּרֶן כִּי אִם עַל פִּי עֵדִים כְּשֵׁרִים, וְעַל הָרֶוַח לֹא יְהֵא נֶאֱמָן כִּי אִם בִּשְׁבוּעָה (קס"ז).

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
They may stipulate that the trader is not to be believed should he claim that he incurred a loss from the principal, unless [there is testimony to that effect] from valid witnesses, nor is he to be trusted regarding the profit unless he takes an oath.


###### Kitzur Shulchan Arukh 66:3
[Kitzur Shulchan Arukh 66:3](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:3)

גַּם יְכוֹלִין לְהַתְנוֹת שֶׁהַבְּרֵרָה הִיא בְּיַד הַמְקַבֵּל, שֶׁאִם יִרְצֶה לָתֵת לְהַנּוֹתֵן כָּךְ וְכָךְ בְּעַד הַחֵלֶק הָרֶוַח שֶׁלּוֹ, תְּהֵא הָרְשׁוּת בְּיָדוֹ, וְכָל מוֹתַר הָרֶוַח יִשָּׁאֵר לוֹ. וְדֶרֶךְ זֶה הוּא נָכוֹן, כִּי מִסְּתָמָא הַמְקַבֵּל לֹא יִרְצֶה לִשָּׁבַע, וְיִתֵּן לַנּוֹתֵן כְּפִי מַה שֶּׁיִּקְצְבוּ בֵּינֵיהֶם, וְזֶהוּ הֶתֵּר עִסְקָא הַנָּהוּג בֵּינֵינוּ. וַאֲפִלּוּ אִם הַמְקַבֵּל יוֹדֵעַ אַחַר כָּךְ בְּעַצְמוֹ שֶׁלֹּא הִרְוִיחַ, אוֹ אֲפִלּוּ אִם הִפְסִיד, יָכוֹל לִתֵּן לְהַנּוֹתֵן אֶת הַקֶּרֶן עִם הָרֶוַח שֶׁקָּצְבוּ בֵּינֵיהֶם, וְאֵין כָּאן שׁוּם אִסּוּר, דְּכֵיון שֶׁיֵשׁ עָלָיו חִיּוּב שְׁבוּעָה, יָכוֹל לִפְטֹר אֶת עַצְמוֹ בְּמָמוֹנוֹ מִן הַשְּׁבוּעָה.

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
They may also stipulate that the trader shall have the option, that to give the investor a fixed sum for his share of the profit, and any remainder of the profit be left with him (the trader). This method is proper because, it is likely that the trader, reluctant to take an oath [as to the amount of profit] would rather give the investor the amount stipulated between them. This is the *heteir iska* that is prevalent among us. And even if the trader knows afterwards that he made no profit, or even that he suffered a loss, he may give the investor the principal plus the profit that they set between them, and there is no prohibition here, for since the trader is obligated to take an oath, he may absolve himself of the oath with his money.⁵

footnotes:
⁵ The money over and above the principal is looked upon as a means to avoid an oath rather than an interest payment.


###### Kitzur Shulchan Arukh 66:4
[Kitzur Shulchan Arukh 66:4](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:4)

אֲבָל שֶׁיִּקְנֶה הַמְקַבֵּל אֶת חֵלֶק הָרֶוַח שֶׁל הַנּוֹתֵן בְּכָךְ וְכָךְ, שֶׁיִּהְיֶה מְחֻיָּב לָתֵת לוֹ אַחַר כָּךְ כָּךְ וְכָךְ בְּכָל אֹפֶן, זֶהוּ אָסוּר, אֶלָּא צָרִיךְ שֶׁיִּהְיֶה לְהַמְקַבֵּל הַבְּרֵרָה.

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
However, it is prohibited for the trader to buy out the share of the investor's profit for a set amount under all circumstances.⁶ ⁷ But, rather, the trader must have the option.⁸

footnotes:
⁶ I.e., regardless whether there be profit or loss.
⁷ Since he guarantees him a profit, this is considered as an interest payment for the half of the money that is on loan to him.
⁸ I.e., a choice whether to give him a share in the profit or a set amount in return for the profit. He must not guarantee him an extra payment, even in the event that there is no profit.


###### Kitzur Shulchan Arukh 66:5
[Kitzur Shulchan Arukh 66:5](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:5)

נָתַן לוֹ עִסְקָא עַל זְמָן, וְנִתְעַכֵּב אֶצְלוֹ הַמָּעוֹת גַּם אַחַר זְמַן הַפֵּרָעוֹן, צָרִיךְ הַמִּתְעַסֵּק לִתֵּן לוֹ רֶוַח גַּם בְּעַד הַזְּמַן שֶׁאַחַר כָּךְ, כִּי מִסְּתָמָא נִשְׁאַר בְּיָדוֹ עַל תְּנַאי הָרִאשׁוֹן. וּמִכָּל מָקוֹם טוֹב יוֹתֵר לִכְתֹּב תֵּכֶף בְּתוֹךְ שְּׁטַר עִסְקָא, שֶׁאִם יִשָּׁאֵר הַמָּעוֹת אֵצֶל הַמְקַבֵּל לְאַחַר הַזְּמָן, יִהְיֶה גַּם כֵּן בִּתְנַאי זֶה.

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
If he gave him an *iska* till a certain date and the trader withheld the money beyond the repayment date, the trader [must also give him a share of] the profit for the time elapsed, because it is assumed that the money remained with him beyond the allotted time on the original terms. It is, nevertheless, preferable to add to the *iska* contract [the stipulation] that if the money remains with the trader beyond the [allotted] time, it will remain so on the same terms.


###### Kitzur Shulchan Arukh 66:6
[Kitzur Shulchan Arukh 66:6](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:6)

נֹסַח שְׁטָר עִסְקָא:
מוֹדֶה אֲנִי חָתוּם מַטָּה שֶׁקִּבַּלְתִּי לְיָדַי מֵאֵת ר' רְאוּבֵן הוֹרְוִיץ מֵאוּנְגְּוַאר סַךְ מֵאָה זְהוּבִים (אעס"וו) בְּתוֹרַת עִסְקָא לַחֲצִי שָׁנָה מִיּוֹם דִּלְמַטָּה, וְהִתְחַיַּבְתִּי אֶת עַצְמִי שֶׁכָּל סְחוֹרָה טוֹבָה שֶׁתְּהֵא נִרְאֵית בְּעֵינַי שֶׁהִיא הַיּוֹתֵר קְרוֹבָה לְהַרְוִיח בָּהּ, מְחֻיָּב אֲנִי לִקְנוֹת בְּעַד סַךְ הַנִּזְכָּר לְעֵיל, וְהֵם קוֹדְמִין לִמְעוֹתַי. וְכָל הָרֶוַח שֶׁיִּתֵּן ה' לְיָדַי מֵאוֹתָהּ סְחוֹרָה, יִהְיֶה מֶּחֱצָה הָרֶוַח לִי וְהַמֶּחֱצָה לְר' רְאוּבֵן הַנִּזְכַּר לְעֵיל, וְכֵן חַס וְשָׁלוֹם לְהֶפְסֵד הוּא חֵלֶק כְּחֵלֶק. וּמִיָּד לְאַחַר כְּלוֹת חֲצִי שָׁנָה מִיּוֹם דִּלְמַטָּה אֲנִי מְחֻיָּב לְהַחֲזִיר לְר' רְאוּבֵן הַנִּזְכַּר לְעֵיל אֶת הַקֶּרֶן וְגַם חֲצִי רֶוַח שֶׁלּוֹ, וְלֹא יְהֵא לִי נֶאֱמָנוּת לוֹמַר הִפְסַדְתִּי אֶלָּא עַל פִּי שְׁנֵי עֵדִים כְּשֵׁרִים, וְעַל הָרֶוַח לֹא אֱהֵא נֶאֱמָן, רַק בִּשְׁבוּעָה. וְאוּלָם תְּנַאי הָיָה בֵּינֵינוּ שֶׁאִם אֶרְצֶה לִתֵּן לוֹ בְּעַד חֵלֶק רֶוַח שֶׁלּוֹ י' זְהוּבִים, אַזַי אֵין לוֹ עָלַי שׁוּם תְּבִיעָה, כִּי הַמּוֹתָר שַׁיָּךְ לִי לְבַד אֲפִלּוּ יְבֹרַר שֶׁהָיָה הַרְבֵּה רֶוַח, וְכָל דִּין תּוֹרַת נֶאֱמָנוּת לְבַעַל הַשְּׁטָר אַף לְאַחַר זְמַן הַפֵּרָעוֹן. וְכָל זְמַן שֶׁלֹּא אַחֲזִיר אֶת הַמָּעוֹת הַנִּזְכָּרוֹת לְעֵיל, הֵם בְּיָדִי בְעִסְקָא בָּאֹפֶן הַנִּזְכָּר לְעֵיל.
אוּנְגְווַאר כ"ח שבט תרל"א לפ"ק.
שמעון אייזנשטיין
בפנינו עדים:
לוי בלוישטיין יהודה הויכבערגער

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
This is a [sample] text of an *iska* contract: I, the undersigned, acknowledge that I accepted from Reb Reuven Hurwitz of Ungvar (Czechoslovakia) the amount of 100 gulden as an *iska* [transaction], for one-half year from the date recorded and I have obligated myself that any quality merchandise as may seem to me most likely of showing profits, I am obligated to buy with the above-mentioned sum and this money shall take precedence over mine. All profits that Hashem will grant me from the merchandise will [be divided], half the profit [going] to me and half to the above-mentioned Reb Reuven. Likewise, if, Heaven forfend, there be a loss it will be equally shared. Immediately after the end of the half-year from the date recorded below, I am obligated to repay to the above-mentioned Reb Reuven the principal as well as his half of the profit. I shall not be believed to claim: "I have suffered a loss" unless [I produce] testimony of two valid witnesses, whereas, concerning the [amount of] profit I shall not be believed except under oath. However, there was a stipulation between us that if I choose to pay him for his share of the profits, a sum of ten gulden, then, he has no claim whatever against me, for the excess shall belong to me alone even if it is established that there was a sizeable profit. All credibility [remains] with the holder of the contract even after the date of repayment.⁹ As long as I have not repaid the above-mentioned monies, they remain with me as an *iska* in the manner mentioned above, and I have received compensation for my labor.
Ungvar—28 Shvat 5631 (1871)
Shimon Eisenstein
Before us witnesses: Levi Blaustein — Yehudah Hochberger

footnotes:
⁹ I.e., the credibility remains with the holder of the contract as long as he retains the contract, even if it is after the repayment date.


###### Kitzur Shulchan Arukh 66:7
[Kitzur Shulchan Arukh 66:7](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:7)

אִם הַשָּׁעָה דְּחוּקָה וְאִי אֶפְשָׁר לָהֶם לִכְתֹּב שְׁטַר עִסְקָא, יְכוֹלִין לְהַתְנוֹת כָּל הַדְּבָרִים הַנִּזְכָּרִים לְעֵיל בְּעַל פֶּה.

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
If they are pressed for time and it is impossible for them to write an *iska* contract, they may make all the above-mentioned stipulations orally.


###### Kitzur Shulchan Arukh 66:8
[Kitzur Shulchan Arukh 66:8](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:8)

אִם מַקְדִּים מָעוֹת עַל סְחוֹרָה, יִכְתְּבוּ שְׁטָר הֶתֵּר עִסְקָא בְּעִנְיָן זֶה:
מוֹדֶה אֲנִי חָתוּם מַטָּה, שֶׁקִּבַּלְתִּי מֵאֵת ר' רְאוּבֵן וַויְינְשְׁטָאק מֵאוּנְגְוַאר סַךְ מֵאָה זְהוּבִים (אעס"וו) לְהִתְעַסֵּק בְּמָעוֹת אֵלּוּ, (בְּמַאשִׁין) [בַּמְכוֹנָה] שֶׁאֲנִי מַחְזִיק בִּכְפַר זאהאן עַד רֹאשׁ חֹדֶשׁ נִיסָן, הַבָּא עָלֵינוּ לְטוֹבָה, וְהָרֶוַח שֶׁיַּעֲלֶה לְעֵרֶךְ מָעוֹת אֵלּוּ, לְאַחַר נִכְיוֹן כָּל הַהוֹצָאוֹת, יִהְיֶה מֶחֱצָה שֶׁלִּי וּמֶחֱצָה לְר' רְאוּבֵן הַנִּזְכָּר לְעֵיל, וְכֵן חַס וְשָׁלוֹם הַהֶפְסֵד יִהְיֶה חֵלֶק כְּחֵלֶק. וּמִיָּד בְּרֹאשׁ חֹדֶשׁ נִיסָן, הַבָּא עָלֵינוּ לְטוֹבָה, אֲנִי מְחֻיָּב לְהַחֲזִיר לְר' רְאוּבֵן הַנִּזְכָּר לְעֵיל אֶת הַקֶּרֶן עִם חֵלֶק הָרֶוַח שֶׁלּוֹ. וְלֹא אֱהֵא נֶאֱמָן לוֹמַר הִפְסַדְתִּי אֶלָּא בְּבֵרוּר, עַל פִּי שְׁנֵי עֵדִים כְּשֵׁרִים, וְעַל הָרֶוַח לֹא אֱהֵא נֶאֱמָן כִּי אִם בִּשְׁבוּעָה. אַךְ זֹאת הֻתְנָה בֵינֵינוּ שֶׁאִם אֶרְצֶה בְּרֹאשׁ חֹדֶשׁ נִיסָן הַבָּא עָלֵינוּ לְטוֹבָה לִתֵּן לְר' רְאוּבֵן הַנִּזְכָּר לְעֵיל בְּעַד הַקֶּרֶן וְגַם בְּעַד חֵלֶק הָרֶוַח שֶׁלּוֹ סַךְ חָמֵשׁ מִדּוֹת ספִּירְט, אֲזַי אֵין לוֹ עָלַי עוֹד שׁוּם תְּבִיעָה יוֹתֵר. וְכָל דִּין תּוֹרַת נֶאֱמָנוּת לְבַעַל הַשְּׁטָר, אַף לְאַחַר זְמַן הַפֵּרָעוֹן. וְקִבַּלְתִּי שְׂכַר עֲמָלִי:
אוּנְגְוַאר י"א תשרי תרל"א לפ"ק.
שמעון בלומנטאהל
בפנינו עדים:
לוי בלוישטיין יהודה הלוי טויב

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
If one prepays money for merchandise¹⁰ they shall draw up an *iska* conract in the following manner: I, the undersigned, hereby acknowledge that I received from Reb Reuven Weinstock, of Ungvar, the amount of 100 gulden to do business with these monies through [manufacturing] equipment that I control in the village, Zahan, until the first day of the month of Nissan, may it come to us for goodness. The profit that will be realized proportional to these monies, after deducting all the expenses, shall be half mine and half to the aforementioned Reb Reuven. Likewise, if, Heaven forfend, [there be a loss], the loss incurred shall be divided equally. Immediately, on the first day of the month of Nissan may it come to us for goodness, I obligate myself to repay to the aforementioned Reb Reuven the principal plus his share of the profit. I shall not be believed to say: "I suffered a loss," unless with verification through the testimony of two valid witnesses. I shall not be believed as regards the profit unless under oath. However, there was a stipulation between us that should I want on the first of Nissan may it come to us for goodness, to give to the aforementioned Reb Reuven for the principal as well as for his share of the profit, the amount of five measures of spirits, then he shall not have any further claim against me. All credibility [remains] with holder of the contract even after the date or repayment and I have received compensation for my labor.
Ungvar—11 Tishrei 5631 (1871)
Shimon Blumenthal
Before witnesses: Levi Blaustein — Yehudah HaLevi Taube

footnotes:
¹⁰ I.e., he pays now for merchandise to be delivered later.


###### Kitzur Shulchan Arukh 66:9
[Kitzur Shulchan Arukh 66:9](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:9)

אִם הַנּוֹתֵן רוֹצֶה שֶׁהַמְקַבֵּל יִתֵן לוֹ שְׁטַר חוֹב פָּשׁוּט וְאַמִּיץ, כְּחָק הַמְּדִינָה, בִּכְדֵי שֶׁאִם הַמְקַבֵּל יְסָרֵב מִלִּפְרוֹעַ אוֹ יָמוּת, יְהֵא לוֹ נָקֵל לִגְבּוֹת מְעוֹתָיו עַל יְדֵי עֶרְכָּאוֹת, אֶלָּא שֶׁבְּעַל פֶּה הֵם מַתְנִים שֶׁמָּעוֹת אֵלּוּ הֵן בְּתוֹרַת עִסְקָא, לֹא מַהֲנֵי, וַאֲפִלּוּ הַשְּׁטָר אֵינוֹ אֶלָּא עַל הַקֶּרֶן לְבָד, דְּכֵיוָן שֶׁהַנּוֹתֵן יָכוֹל לִגְבּוֹת כָּל הַמָּעוֹת בִּשְׁטַר חוֹב שֶׁבְּיָדוֹ אֲפִלּוּ אִם יִהְיֶה הֶפְסֵד בָּרוּר, אָסוּר. וַאֲפִלּוּ אִם הַמְקַבֵּל מַאֲמִין לְהַנּוֹתֵן וְהוּא אָדָם חָסִיד, מִכָּל מָקוֹם לֹא מַהֲנֵי. וַאֲפִלּו אִם הַמְקַבֵּל נוֹתֵן לְהַנּוֹתֵן גַּם שְׁטַר עִסְקָא, שֶׁכָּתוּב בּוֹ כִּי הַמָּעוֹת שֶׁנִּכְתְּבוּ בַּשְּׁטַר חוֹב הֵן בְּתוֹרַת עִסְקָא, גַּם כֵּן לֹא מַהֲנֵי, דְּאִכָּא לְמֵיחָשׁ שֶׁמָּא הַנּוֹתֵן אוֹ יוֹרְשָׁיו יַעֲלִימוּ אַחַר כָּךְ אֶת שְּׁטַר הָעִסְקָא וְיִגְבּוּ בִּשְׁטַר חוֹב. וְאֵין הֶתֵּר לָזֶה, אֶלָּא שֶׁיַּשְׁלִישׁוּ אֶת שְּׁטַר הָעִסְקָא בְּיַד שָׁלִישׁ, אוֹ שֶׁהַנּוֹתֵן יַחְתֹּם אֶת עַצְמוֹ עַל שְּׁטַר הָעִסְקָא וִיהֵא מֻנָּח בְּיַד הַמְקַבֵּל, אוֹ שֶׁיִּכְתְּבוּ עַל שְּׁטַר הַחוֹב, שֶׁהוּא עַל פִּי אֹפֶן הַמְבֹאָר בִּשְׁטַר עִסְקָא, אוֹ לְכָל הַפָּחוֹת יְיַחֲדוּ עֵדִים שֶׁשְּׁטַר הַחוֹב הוּא בְּתוֹרַת עִסְקָא. וּבְכָל אֳפַנִים אֵלּוּ, אֲפִלּוּ אִם נִכְלַל בִּשְׁטַר הַחוֹב הַקֶּרֶן עִם הָרֶוַח, שַׁפִּיר דָּמֵי (סִימָן קס"ז קע"ז ובחכמת אדם).

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
The investor may want the trader to give him a simple promissory note, which is binding in a civil court so that in the event the trader refuses to pay or should he die, it would be easy for him to collect his money in the civil court. Even if they agree verbally that these monies [are being given] as an *iska*, this does not suffice, even if the note is only for the principal. Since the investor can collect the entire sum with the note in his possession, even in the event of an established loss, such a transaction is forbidden. Even if the trader trusts the investor, and he is a righteous person,¹¹, he will not renege and make use of the promissory note. nevertheless, this does not suffice. Even if the trader will also give the investor an *iska* contract in which it will be written that the money mentioned in the promissory note was [given] with *iska* conditions, this, too, is insufficient, because there is concern that the investor or his heirs might conceal the *iska* contract afterwards and then collect [their money] with the note. The only permissible way [to go about] this is to deposit the *iska* contract with a third (disinterested) party, or the investor must sign his name on the *iska* contract and it must remain in the trader's hands, or they must write into the promissory note that the transaction therein is based on the transaction implicit in an *iska* contract, or, at the very least, they must appoint witnesses [who will testify] that the promissory note is based on the *iska* agreement. In all these ways, even if the promissory note includes the principal and the profit, it is permissible.

footnotes:
¹¹ Making it almost certain that once having agreed orally to an iska


###### Kitzur Shulchan Arukh 66:10
[Kitzur Shulchan Arukh 66:10](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:10)

שְׁטַר עִסְקָא לֹא מַהֲנֵי לְהַתִּיר אֶלָּא אִם הָאֱמֶת כֵּן הוּא, שֶׁהוּא נוֹטֵל אֶת הַמָּעוֹת לַעֲשׂוֹת בּוֹ אֵיזֶה עֵסֶק. אֲבָל אִם אֵינוֹ נוֹטֵל אֶת הַמָּעוֹת לְצֹרֶךְ עֵסֶק אֶלָּא לִפְרֹעַ אֵיזֶה חוֹב וְכַדּוֹמֶה, אָז לֹא מַהֲנֵי שְׁטַר עִסְקָא, כֵּיוָן שֶׁהוּא שֶׁקֶר. אֲבָל יְכוֹלִין לַעֲשׂוֹת בְּאֹפֶן זֶה, כְּגוֹן רְאוּבֵן שֶׁהוּא צָרִיךְ לְמָעוֹת, וְיֵשׁ לוֹ אֵיזֶה סְחוֹרָה אֲפִלּוּ בְּמָקוֹם אַחֵר, יָכוֹל לְמָכְרָהּ לְשִׁמְעוֹן אֲפִלּוּ בְּזוֹל גָּדוֹל, ובִתְנַאי שֶׁהַבְּרֵרָה בְּיַד רְאוּבֵן, שֶׁאִם לֹא יִמְסְרֶנָּהּ לִידֵי שִׁמְעוֹן עַד יוֹם פְּלוֹנִי, יִתֵּן לוֹ בַעֲדָהּ כָּךְ וְכָךְ, (שֶׁיִּהְיֶה לְשִׁמְעוֹן רֶוַח כָּרָאוּי), וְשִׁמְעוֹן יִתֵּן לִרְאוּבֵן אֶת הַמָּעוֹת וְיַעֲשׂוּ קִנְיָן סוּדָר לְקִיּוּם הַמִּקָח, דְּהַיְנוּ שֶׁשִּׁמְעוֹן הַלּוֹקֵחַ יִתֵּן קְצָת מִבִּגְדוֹ לִרְאוּבֵן שֶׁיִּתְפֹּס בּוֹ, וּבָזֶה הוּא קוֹנֶה אֶת הַסְּחוֹרָה שֶׁל רְאוּבֵן, וַאֲפִלּוּ, שֶׁלֹּא בִפְנֵי עֵדִים, וְהַסְּחוֹרָה הִיא בְּאַחֲרָיוּתוֹ שֶׁל שִׁמְעוֹן הַקּוֹנֶה.

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
An *iska* contract is of no avail unless it is the truth, that he is taking the money to use it to transact business. But, if he does not take the money to transact business, but to repay some loan or the like, then, an *iska* contract is of no avail since it is untrue. However, it is permitted to do the following: if *Reuven*, who is in need of money owns certain merchandise, even if it is located in another locality, he may sell it to *Shimon*, even at a great discount on the condition that *Reuven* has the option that if it is not delivered to *Shimon* by a certain date, he will give him in its stead so much and so much ([an amount] which will profit *Shimon* accordingly), then *Shimon* may give the money to *Reuven* and they make a *kinyan sudar*¹² to establish the transaction. [It is done in the following manner:] *Shimon*, the buyer, gives part of his garment to *Reuven* for *Reuven* to take hold of; thereby, acquiring ownership of the merchandise belonging to *Reuven*. [The transaction is binding] even without witnesses, and the merchandise become the responsibility of *Shimon*, the buyer.

footnotes:
¹² To make an agreement legally binding by handing over an object from one to the other.


###### Kitzur Shulchan Arukh 66:11
[Kitzur Shulchan Arukh 66:11](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:11)

וְכֵן רְאוּבֵן שֶׁהָיָה חַיָּב לְשִׁמְעוֹן מָעוֹת, וּבַהַגִּיעַ זְמַן הַפֵּרָעוֹן אֵין לוֹ מָעוֹת לִרְאוּבֵן, וְהִתְפַּשֵּׁרוּ שֶׁשִּׁמְעוֹן יַמְתִּין לוֹ אֵיזֶה זְמַן, בָּזֶה גַּם כֵּן אֵין תַּקָּנָה בִּשְׁטַר עִסְקָא, אֶלָּא שֶׁרְאוּבֵן יִמְכֹּר לְשִׁמְעוֹן אֵיזֶה סְחוֹרָה שֶׁיֵּשׁ לוֹ בָּאֹפֶן הַנִּזְכָּר לְעֵיל, וְשִׁמְעוֹן יַחְזִיר לוֹ אֶת שְּׁטַר הַחוֹב שֶׁהָיָה לוֹ עָלָיו מִכְּבָר, וּרְאוּבֵן יִתֵּן לוֹ שְׁטָר עַל הַסְּחוֹרָה אֲשֶׁר קָנָה מֵאִתּוֹ בָּאֹפֶן הַנִּזְכָּר לְעֵיל.

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
Similarly, if *Reuven* owed *Shimon* money, and when the due date arrived, *Reuven* had no money, and they agreed that *Shimon* would wait a certain amount of time; here, too, an *iska* contract is ineffective, unless *Reuven* sells *Shimon* some merchandise that he owns, in the manner mentioned above. *Shimon* may return the promissory note that he formerly held on him, whereby *Reuven* will give him a note on the merchandise that he purchased from him in the manner mentioned above.


###### Kitzur Shulchan Arukh 66:12
[Kitzur Shulchan Arukh 66:12](https://torahapp.org/share/book/Kitzur%20Shulchan%20Arukh/r/66:12)

יִשְֹרָאֵל שֶׁנָּתַן לַחֲבֵרוֹ בְּהֵמָה לְגַדְּלָהּ וְשֶׁיְחַלְּקוּ אַחַר כָּךְ בָּרֶוַח, דִּינוֹ כְּמוֹ שֶׁנָּתַן לוֹ מָעוֹת בְּעִסְקָא (עַיֵּן ביורה דעה סִימָן קע"ז).

**Kitzur Shulchan Aruch, trans. Rabbi Avrohom Davis, Metsudah Pub., 1996:**
When a Jew gives his fellow-Jew an animal to raise, on the condition of subsequently sharing the profit, the same law applies as in the case of one who gives money for *iska*.