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    The partnership deed outlines the key terms of agreement between partners, including the name and addresses of the partners and firm, nature of business, capital contributions, profit sharing ratios, accounting periods, and rights/duties of partners, in order to avoid future disputes, provide evidence in court, and facilitate smooth business operations by preventing misunderstandings.

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    The partnership deed outlines the key terms of agreement between partners, including the name and addresses of the partners and firm, nature of business, capital contributions, profit sharing ratios, accounting periods, and rights/duties of partners, in order to avoid future disputes, provide evidence in court, and facilitate smooth business operations by preventing misunderstandings.

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    © All Rights Reserved
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    2 views1 page

    00 Benifits

    Uploaded by

    bhawnatulsian
    The partnership deed outlines the key terms of agreement between partners, including the name and addresses of the partners and firm, nature of business, capital contributions, profit sharing ratios, accounting periods, and rights/duties of partners, in order to avoid future disputes, provide evidence in court, and facilitate smooth business operations by preventing misunderstandings.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    PARTNERSHIP DEED

    The partnership deed is a written agreement among the partners which contains the terms of
    agreement. A partnership deed should contain the following points:

    1. Name and address of the firm.


    2. Name and addresses of the partners.
    3. Nature of the business
    4. Terms of Partnership
    5. Capital contribution by each partner.
    6. Interest on capital
    7. Drawings and interest on drawings.
    8. Profit sharing ratio
    9. Interest on loan.
    10. Partner's Salary/commission etc.
    11. Method for valuation of goodwill
    12. Accounting period of the firm
    13. Rights and duties of partners.

    Benefits of Partnership deed

    (1) Helps to avoid dispute in future


    (2) It is an evidence in the court
    (3) Facilitates functioning of business by avoiding misunderstanding

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