parternership business
tipu sultan khadim
(Querist) 15 July 2010
This query is : Resolved
we are three friends opening a transport business what type of deal we should make that we can not cheat each other.
Raj Kumar Makkad
(Expert) 15 July 2010
No any deed or deal is foolproof. Matter is about intension. If you all three from mind and heart determine to be honest towards each other then any deed or no deed shall also suffice.
However, it shall be better if you form a partnership firm having registered deed clearly mentioning all the rules, rights and liabilities along-with mode of working.
A V Vishal
(Expert) 15 July 2010
What ever you intend, intensions and other matters related to control and management of business should be put in black and white in form of a partnership deed, further, the partnership should be registered so that in case of disputes it can be solved by an arbitrator or court of law.
Kumar Thadhani
(Expert) 15 July 2010
Prepare and enter into agreement with all three partners , on 500 Rs Non-Judicial Stamp-paper, normally all the terms and conditions are usual and normal taking precautions of each of the partners and its partnership business. Rest leave to GOD and follow the instructions given to by experts MR. MAKKAD & Mr.VISHAL.
Uma parameswaran
(Expert) 15 July 2010
Three of you needs to take decision about the investment ,existing and future rights,profit sharing , liability and so on.
Chanchal Nag Chowdhury
(Expert) 17 July 2010
Partnership is based on trust. No amount of clauses can prevent one from cheating the others.
