Partnership agreement
Partnership agreement

The following Corporate precedent provides comprehensive and up to date legal information covering:

  • Partnership agreement
  • BACKGROUND
  • 1 Definitions and interpretation
  • 2 Partnership business, commencement and duration
  • 3 Name and location
  • 4 Partnership property
  • 5 Capital accounts, contributions, increases and reductions
  • 6 Current accounts, drawings and expenses
  • 7 Profits and losses
  • 8 Partners’ obligations and restrictions
  • More...

This Partnership Agreement is made on [date]

Parties

  1. 1

    [Name of partner], of [address]

  1. 2

    [Name of partner], of [address]

  1. 3

    [Name of partner], of [address]

  1. 4

    [Name of partner], of [address]

BACKGROUND

The Partners wish to engage in [insert nature of business or profession or trade] in partnership on the terms set out in this agreement.

The parties agree:

    1. 1

      Definitions and interpretation

      1. 1.1

        In this agreement:

        Accountants

        1. means [insert name of Partnership’s accountants] or such other firm of chartered accountants as are appointed to replace them in accordance with the provisions of this agreement;

        Accounting Date

        1. means [insert day and month] in each year or such other date as may be determined in accordance with this agreement;

        Accounting Period

        1. means each accounting period of the Partnership (whether of one year or more or less) ending on the Accounting Date and, in the case of the first Accounting Period, the period starting on the Commencement Date and ending on the Accounting Date in [insert year];

        Business

        1. means the business, profession or trade of [insert details of the Partnership business] and/or such other business, profession or trade to be carried on by the Partnership as is approved from time to time by[ special resolution] in accordance with clause 2.3;

        Business Day

        1. means a day, other than a Saturday, Sunday or public holiday, on which clearing banks are open for non-automated commercial

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