Partnership agreement—short form
Partnership agreement—short form

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

  • Partnership agreement—short form
  • Parties
  • Background
  • The ScheduleThe Partners

DRAFTING FOR BREXIT: For the latest information on the impact of Brexit on the drafting, negotiation and enforceability of this Precedent, see Practice Note: Brexit—drafting boilerplate clauses.

This Partnership Agreement is made on [insert date]

Parties

  1. 1

    [insert name of partner], of [insert address of partner]

  1. 2

    [insert name of partner], of [insert address of partner]

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, unless the context otherwise requires:

    2. 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];