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    Partnership Contract

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    Kimberley Dela Cruz- Matammu
    This document outlines a partnership agreement between two parties. It establishes the name and business of the partnership, which will operate as [BUSINESS NAME] conducting [BUSINESS TYPE] with its principal office located in [CITY]. The partnership will begin on [DATE] and continue until terminated according to the agreement. It specifies how capital contributions and profits/losses will be divided equally between the partners and maintained in separate capital and income accounts. The partners will not receive salaries but can withdraw credit balances from their income accounts.

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    © All Rights Reserved
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    Partnership Contract

    Uploaded by

    Kimberley Dela Cruz- Matammu
    39 views1 page
    This document outlines a partnership agreement between two parties. It establishes the name and business of the partnership, which will operate as [BUSINESS NAME] conducting [BUSINESS TYPE] with its principal office located in [CITY]. The partnership will begin on [DATE] and continue until terminated according to the agreement. It specifies how capital contributions and profits/losses will be divided equally between the partners and maintained in separate capital and income accounts. The partners will not receive salaries but can withdraw credit balances from their income accounts.

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    This document outlines a partnership agreement between two parties. It establishes the name and business of the partnership, which will operate as [BUSINESS NAME] conducting [BUSINESS TYPE] with its principal office located in [CITY]. The partnership will begin on [DATE] and continue until terminated according to the agreement. It specifies how capital contributions and profits/losses will be divided equally between the partners and maintained in separate capital and income accounts. The partners will not receive salaries but can withdraw credit balances from their income accounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    39 views1 page

    Partnership Contract

    Uploaded by

    Kimberley Dela Cruz- Matammu
    This document outlines a partnership agreement between two parties. It establishes the name and business of the partnership, which will operate as [BUSINESS NAME] conducting [BUSINESS TYPE] with its principal office located in [CITY]. The partnership will begin on [DATE] and continue until terminated according to the agreement. It specifies how capital contributions and profits/losses will be divided equally between the partners and maintained in separate capital and income accounts. The partners will not receive salaries but can withdraw credit balances from their income accounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    PARTNERSHIP AGREEMENT

    This PARTNERSHIP AGREEMENT is made on ____________, 20__ between


    __________________________________________ and
    __________________________________________.
    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 charged to his capital account.
    5. SALARIES AND DRAWINGS. Neither partner shall receive any salary for services rendered to
    the partnership. Each partner may, from time to time, withdraw the credit balance in his income
    account.
    6. INTEREST. No interest shall be paid on the initial contributions to the capital of the partnership
    or on any subsequent contributions of capital.
    7. MANAGEMENT DUTIES AND RESTRICTIONS. The partners shall have equal rights in the
    management of the partnership business, and each partner shall devote his entire time to the

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