What is a partnership deed?

A partnership deed also called as a partnership agreement, is a record that outlines in detail the rights and functionalities of all parties to a business operation. It has the force of law and is designed to guide the partners in the conduct of the business.

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Partnership Deeds:- A partnership is a unique form of business in which partners work together to achieve common goals. Due to this feature of partnerships, partners are allowed to decide the terms of their relationship with each other. The documents whcih they do so are called partnership deeds.

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Akshay Gupta

A partnership deed is a legal document containing the details of the partnership firm, its partners and their rights & responsibilities. It is signed by all the partners hence they are abiding to the deed. Following are the clauses which are included in the partnership deed.

• Name of the firm
• Place of business
• Object of business
• Term of business
• Partners details
• Date of the deed
• Capital clause
• Profit & loss sharing ratio
• Remuneration to partners if any
• Admission & Retirement of partner
• Rights and duties of partner
• Dispute resolution method

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