Partnership Deeds

This is an important document which governs the members in partnership firm. It covers among other things the following points:

     i. The name, location, and the nature of the business

     ii. Names of the partners, duties and rights of each

     iii. Amount to be invested by each

     iv. Procedures for sharing profits and losses

     v. The duties, power, and liabilities of each partner

     vi. Basis of valuation of good will

     vii. Methods of dealing with the death, retirement, insolvency of one or more partners

     viii. Matters relating to the admission of a new partner

     ix. Methods of settling the account in case of dissolution

     x. Mode of preparation of accounts