Simple contract. This partnership agreement is for 2 partners who are seeking to formalise a partnership that has been going for many years with a new partnership agreement. This is a simple partnership where both partners are equally active, work closely together and are equally responsible for the success or failure of the operation. The agreement is therefore based on equality of investment, contribution, appropriation and drawing. It realises that much of the reason for the success to date has been the equality of the partners and therefore tries to keep this equality going throughout the life of the partnership. It provides for the retirement of a partner but has little to say about death except some simple terms for dealing with the executor of the will and trustee of the deceased partner's estate.
Partnership agreement for 2 partners to formalise a partnership that has been going for many years with a new partnership agreement.