Partnership agreement-set % -3 partners-old p'ship -no

Simple contract. Any State. This partnership agreement is for 3 partners (or more) who are seeking to formalise with a new partnership agreement, a partnership that has been going for many years. It assumes a level of 'capital contribution' as declared in the agreement that is set at a percentage that will determine the percentage governing subsequent obligations and benefits derived from the business. (Note: this can be done simply by multiplying the existing equity/capital account in the current balance sheet by the required percentage and calling the resultant amount the 'assumed capital contribution'.) It seeks to keep the relative proportions of profit/loss/contribution/drawing of each partner at that set percentage throughout the life of the partnership. This often happens where an initial contribution, or an invention or a special expertise etc. requires a particular partner to be recognised throughout the life of the partnership. It deals with possible 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.

AUD $44.00
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Partnership agreement for 3 partners (or more) formalising a partnership that has been going for many years.

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