Sometimes a corporation employs a bank as a broker for selling its shares and bonds. Upon receiving an agreed and specified fee, the bank proceeds to sell the shares and bonds in its capacity as a broker.
2858. Such agreements with a bank are legal. It may take the form of a hiring contract, wherein the corporation pays the fee to the bank in return for hiring the bank for brokering its shares or bonds. It may also take the form of a ju‘¡lah, wherein the corporation agrees to pay the specified amount to the bank should it perform the aforementioned task for the corporation. In both cases, the bank reserves the right to acquire the specified fee upon performing the aforementioned task.
2859. Buying and selling the shares of a corporation that does not engage in illegal transactions, such as interest-based transactions, is permissible. However buying and selling the shares of a corporation that engages in illegal transactions, the profits of which constitute the capital of the corporation, is not permissible. In cases other than this, it is permissible to buy and sell their shares, however one must refrain from their illegal income.
