Partnership ‘SCHEDULE OF LAND POOLED [Referred to in Para 4(1), above] Name of Plot No. with area Village Tehsil ‘District ‘owner/pa in bighas etc. riner ae PlotNo. Area Total ——-Bighas._ Biswas Biswansi_ Kachwansi atea wie Ee No.4 Deed of Agreement on Admission of a New Partner THIS DEED OF AGREEMENT is made the .......,. day of . oc 20... . . BETWEEN A.B. and C. D., partners in the firm “C, D. & Co.” of the one part; AND E. F., aged....... years, sonof........, resident of... + of the other part. WHEREAS the said A. B. and C. D. are partners in the firm C, D. & Co. situate in... ‘and are bound as such under a deed of partnership executed by them on the. BY Of s20, +++ hereinafler referred to as the “partnership deed”; AND WHEREAS the said E. F. is desirous of being admitted as a member in the aforesaid firm of C. D. & Co, and invest a sum of Rs.....,,. AND the said A.B. and C, D. are willing to admit him as an additional partner. NOW THEREFORE THIS DEED WITNESSES that in pursuance of the Said agreements and in consideration of the said B. F. bringing in and contributing the sum of Rupees .........(RS.....) only, a8 additional capital of the above partnership firm, itis mutually agreed as follows: 1. The parties hereio shall, as from the date thereof be ard continué partners for the Unexpired residue of the teri mentionied in pata’... -of the “partiership died” subject in all resfects'to’the ‘conditions, stipulatinsand Provisions of the aforesaid “parinetshir deed”, so fat a8 applicable, and except a8 varied by this déed of agreement.394 Conveyancing, Precedents and Forms [Chap. ©. That Sri:.:......, FirstPary, shall get a lump sum of RS ve......, Per half year, or... per cent of the profits, whichever is more, but shall not be liable to the payment of any losses; likewise Sti........ , Second Party, shall ger’ sand Sti...+.2.°., Third Party, the Manager on sccount of the facts mentioned in Para 4 above be entitled to the balance of the profits and shal alone be liable to the losses, if any, 7. That for the office of the Manager there shall be no extra remuneration, but the Manager shall be entitled to all actual expenses iticurred by him on Account of the legitimate business of the partnership, which expenses shall be duly debited to the partnership account and thereafter the profit or the loss worked out 8. That the partnership shall be liable to dissolution only if the majority of 9 ihe partners so decid or the Manager so desires. In the event ofthe partnership | eciding to termiate itself, such termination shall be effected from the last day | of the financial year. 9. That on the partnership being dissolved the patties hereto agree as under: os The working, financing partner’ or the Manager shall be entitled to the balance of the profit for the Year, the goodwill, the assets, stock-in-trade, agricultural implements etc. and shall alone be liable for all losses, book debts ‘tc, and the other partiers shall be entitled to the profits for the year calculated a the agreed rate of... ...... per cent up to the date of dissolution, the other Partners shall not be lizble to the payment of any patt or share of the losses, if any. In case any building or-construction has been made by the partnership on any land, it shal go with the land and shal! be the property of the person owning the land, no other partner shall be entitled to any compensation therefor. 10. That the partners further hereby agree to accept the audited accounts, whether placed at the yearly meetings or at the time of dissolution as correct without the production of any other or further documents, paper or youcher. The signature of any partner or his representative at the end of any account shall be eonchusive proof of such partner having accepted the account without reserving tohimself any right to reopen or qitetion the sarne at a later date. 4 IN WITNESS whereof the partners have hereto at the places and dates ‘pearing under theit signatures signed and executed this deed of partnership. Witnesses: 1. : 2 1, 2 3. ‘i Partaers.23} Partnership 393 opinion and re-elect, appoint and constitute another Manager in his place and stead from amongst them, 4. That the Manger shall on behalf of the parnership have the following Powers und duties, that is to say; (He shall direct the business ofthe partnership, look after the same tinal all agricultural and otiter qperations on the gommon pool (@ detailed description of whict Schedule hereto) for such agricultural pusposes as may be requited, He shall'employ and dismiss labour and other servant of servants of {he Partnership on such terms as he may consider fit snd proper and he shall pay all taxes, cesses and shall receive all monies due and Owing to the partnership, whether from sale of the produce or therwise, issue receipts and demand, sue for all monies and things due to the partnership and shall conduct, appear and file or defend ‘cases, lawsuits, etc, in any cost, office, tribunal or elsewhere, G@) AND for the said purposes may, Engage or dismiss any tawyer, advocate, mukhtiar, agent or manager and invest him or them with Such powers and duties. as may be necessary or expedient for Conducting, appearing, filing, defending or otherwise dealing with all ‘oF any of the matters during the working of the partnership or for the Purposes of winding up its affairs and to pay him or them such Femuneration as may be necessary. GD To open an account or aecourts in any bank or banks approved by partners and to operate upon the same under the joinU/single signature Of... orhimnself, (©) To keep or cause to be kept all accounts of the partnership, to get the Same audited by an Auditor duly appointed by the partners and to Place the profit and loss, baance-sheet of the partnership on the expity of each financial year, not later than one month from the beginning of the next financial year. ©) ‘Yo pay the profits or the lump sum amount as herein agreed to the Partners and to obtain a clear discharge from each one of the ether Partners for such payment from. the partners. present or from such Person as may be representing Fim or them in such annual meeting, 5. That Shri... shall be the financing as wells the he is appointed Manager and in view reby agree to share in the produce of the agricultural and-other business profits in the manner appearing and also, in View of this fact, no other pariner shall be able for any losses, if incurred,