I'd look to know more about the "hilful fazool" agreement that took place in Makkah when the Prophet was still young?
Why did he prefer it over red camels? What was do great about a simple protection agreement for a business man?
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Hilful fazool agreement is about upholding justice and restoring rights to their owners such that no oppressor has strength over the oppressed. The Arabs considered red camels to be a very valuable commodity, it was a metaphor used by the bedouin of Arabia to refer to 'the most precious thing a person can have'. You can find the term red camel in various Hadith, below is one such Hadith which indicates guiding one person is better than the most valuable worldly possession that you might have.
Prophet (sallal-laahu-alayhi-wasallam) said to Ali Bin Abee Taalib when he sent him to Khaybar: ‘’Even if a single man is led on the right path (Islam) by Allah through you, then that will be better for you than the nice red camels.” [Bukhari Number 4210]
Now coming to your question, what prophet(ﷺ) meant is he prefers justice over the most valuable possession that he might have.
The Messenger of Allah, peace and blessings be upon him, said, “I witnessed a pact of justice in the house of Abdullah ibn Jud’an that was more beloved to me than a herd of expensive red camels. If I were called to it now in the time of Islam, I would respond.”
In another narration, the Prophet said, “Make such pacts to restore rights to their owners such that no oppressor has strength over the oppressed.”
Source: al-Sunan al-Kubrá 13080
You can read more about the incident in either seerah books.