Your World of Legal Intelligence
 India | 1-800-335-6202

Draft Guidelines of Partnership Agreement

Document Cited in Related
Updated atMarch 2010

This PARTNERSHIP AGREEMENT is made on ____________, 20__ between _____________________________________ and ___________________________________ of _____________________.

  1. NAME AND BUSINESS. The parties hereby form a partnership under the name of ______________________________________ to conduct a _______________________. The principal office of the business shall be in _______________________.

  2. TERM. The partnership shall begin on ________________, 20____, and shall continue until terminated as herein provided.

  3. CAPITAL. The capital of the partnership shall be contributed in cash by the partners as follows: A separate capital account shall be maintained for each partner. Neither partner shall withdraw any part of his capital account. Upon the demand of either partner, the capital accounts of the partners shall be maintained at all times in the proportions in which the partners share in the profits and losses of the partnership.

  4. PROFIT AND LOSS. The net profits of the partnership shall be divided equally between the partners and the net losses shall be borne equally by them. A separate income account shall be maintained for each partner. Partnership profits and losses shall be charged or credited to the separate income account of each partner. If a partner has no credit balance in his income account, losses shall be...

To continue reading

Request your trial
Navigation index

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT