syed 21 March 2018

What to draft for starting new businss

I want to start a business with my friend and i dont want any binding agreement but i want to put up into the writing what document i can execute

Reply Follow

6 Replies

Adv. SIddharth Jain (Advocate ) 22 March 2018

you'll need to get a partnership agreement drafted by an advocate and get it registered, as unregistered contracts cannot be enforced in the court of law.

Adv. SIddharth Jain (Advocate ) 22 March 2018

for further queries feel free to contact me at isidjain1@gmail.com

syed 24 March 2018

The business we are going to start in oman and i dont want to register my partnership and i dont want partnership agreement, do i have any alternative to keep our terms in writinng for future consequences.

Siddharth Jain 24 March 2018

There is no need to have registration of partnership deed in India. Forming a partnership does not legally require execution of a partnership agreement. If you don�t execute an agreement, however, the default rules of state partnership law will govern your partnership. Default rules are laws that apply only if there are no contrary provisions in a partnership agreement. State partnership laws also contain mandatory provisions that apply regardless of the terms of a partnership agreement. You cannot execute othrr such documents having the same effects of a partbership deed