Formation & Agreement | Deed of partnership

Formation and Agreement 

The partnership may be formed by express or implied with the written agreement in the deed of partnership. The partnership name must be registered with the registrar of business names within twenty-Eight days.

Deed of partnership

Deed of partnership may be defined as a document drawn up to clarify the respective positions of the partners in a business. It can also refer to as partnership agreement.

Deed of Partnership (Documents)

• Name of the firm and its address
• The names of partners and their business
• The nature of the business
• Duration of the business
• The objectives of the business
• Method of admitting new partners
• The rights and duties of the partners
• Amount of salaries to pay to active partners
• Dissolution of partnership.