| Commentary

67.2 Drafting issues

| Commentary

67.2 Drafting issues

The partnership agreement must obviously set out clearly what is to be each partner’s initial capital contribution to the partnership. If the contribution is to be in kind, for example, real property, machinery or stock, the agreement should also specify what value is to be attributed to the asset or assets contributed1. The agreement will usually proceed to lay down some general principles relating to the contribution of future capital, in most cases providing that there is no obligation on any of the partners to provide additional capital but, where further capital is subscribed, each partner should

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