The first four parts of your agreement are pretty simple and should be done as follows:
The Name of The Partnership is………..
The Name of The Initial Partners are………..
Place of Business: The principal place of business of the Partnership is……….
Nature of Business: The Partnership shall generally engage in the following…………
This doesn’t generally require consultation, but if you’re looking for a unique partnership then you’ll want your customers to see a formal name - hence you might want to include you DBA.
The fifth part to the 9th part of your agreement includes the following.
Duration: The partnership shall commence business on …….. And shall continue until terminated by this agreement, or by operation of law.
Contribution of Capital: The partners shall contribute capital in proportionate shares as follows……..
Allocation of Depreciation or Gain or Loss on Contributed Property: The partners understand...
Capital Accounts. An individual capital account shall be maintained for each partner...
Drawing Accounts: An individual drawing account shall be maintained for each partner...
The rest include:
Salaries: No Partner shall receive any salary for services rendered to the partnership...
Loans by Partners: If a majority of the partners consent, any partner may lend money...
Profit and Losses: Net profits of the partnership shall be divided proportionately...
Management: The partners have agreed to the management of the partnership as follows:...
Books of Accounts: The partnership shall maintain adequate accounting records...
Accounting Basis: The books on account shall be kept on a ……….. Basis.
Fiscal Year: The books of account shall be kept on a ………… year basis ....
Annual Audit: The books of the partnership shall be audited as close to the end of the fiscal year by...
Banking: All funds of the partnership shall be deposited in the name of the partnership...
The rest are down to you and your partner. For more legal phrases that you need in the letter, get in touch with a lawyer so you can do things properly.
The Name of The Partnership is………..
The Name of The Initial Partners are………..
Place of Business: The principal place of business of the Partnership is……….
Nature of Business: The Partnership shall generally engage in the following…………
This doesn’t generally require consultation, but if you’re looking for a unique partnership then you’ll want your customers to see a formal name - hence you might want to include you DBA.
The fifth part to the 9th part of your agreement includes the following.
Duration: The partnership shall commence business on …….. And shall continue until terminated by this agreement, or by operation of law.
Contribution of Capital: The partners shall contribute capital in proportionate shares as follows……..
Allocation of Depreciation or Gain or Loss on Contributed Property: The partners understand...
Capital Accounts. An individual capital account shall be maintained for each partner...
Drawing Accounts: An individual drawing account shall be maintained for each partner...
The rest include:
Salaries: No Partner shall receive any salary for services rendered to the partnership...
Loans by Partners: If a majority of the partners consent, any partner may lend money...
Profit and Losses: Net profits of the partnership shall be divided proportionately...
Management: The partners have agreed to the management of the partnership as follows:...
Books of Accounts: The partnership shall maintain adequate accounting records...
Accounting Basis: The books on account shall be kept on a ……….. Basis.
Fiscal Year: The books of account shall be kept on a ………… year basis ....
Annual Audit: The books of the partnership shall be audited as close to the end of the fiscal year by...
Banking: All funds of the partnership shall be deposited in the name of the partnership...
The rest are down to you and your partner. For more legal phrases that you need in the letter, get in touch with a lawyer so you can do things properly.
