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  • Partnership Deed

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    aditya aggarwal
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    The document discusses the importance of a partnership deed, which is a written legal agreement signed by all partners that details the terms and conditions of the partnership. A partnership deed includes clauses that describe the partners, firm, principal place of business, nature of business, capital contributions, profit sharing ratios, and how to handle events like the death of a partner or settlement of disputes. Having a written partnership deed is important as it establishes the rights, duties and liabilities of each partner, and provides a basis for settling any disputes that may arise.

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    The document discusses the importance of a partnership deed, which is a written legal agreement signed by all partners that details the terms and conditions of the partnership. A partnership deed includes clauses that describe the partners, firm, principal place of business, nature of business, capital contributions, profit sharing ratios, and how to handle events like the death of a partner or settlement of disputes. Having a written partnership deed is important as it establishes the rights, duties and liabilities of each partner, and provides a basis for settling any disputes that may arise.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    56 views1 page

    Partnership Deed

    Uploaded by

    aditya aggarwal
    The document discusses the importance of a partnership deed, which is a written legal agreement signed by all partners that details the terms and conditions of the partnership. A partnership deed includes clauses that describe the partners, firm, principal place of business, nature of business, capital contributions, profit sharing ratios, and how to handle events like the death of a partner or settlement of disputes. Having a written partnership deed is important as it establishes the rights, duties and liabilities of each partner, and provides a basis for settling any disputes that may arise.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Partnership deed

     Partnership comes into existence by an oral or written agreement. It is


    better to have written agreement to avoid any dispute. The written
    document known as Partnership deed. It includes detail of the terms and
    condition of partnership. It is a legal documents signed by all partners.

    Clauses include in Partnership deed


     Description of Partners  Remuneration to Partner’s
     Description of Firm  Valuation of Goodwill
     Principal place of business  Valuation of Assets
     Nature of Business  Settlement of Account
     Commencement of  Accounting Period
    Partnership  Rights & Duties of Partner’s
     Capital Contribution  Duration of Partnership
     Interest on capital  Bank Account operation
     Interest on Drawings  Death of Partner
     Profit Sharing Ratio  Settlement of Disputes
     Interest on Loan

    Importance of Partnership deed


     Governs rights duties and liabilities of each partner.
     Disputes are settled on the basis of Partnership deed, it being a written
    contract.

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