DEED OF DISSOLUTION OF PARTNERSHIP

THIS DEED DISSOLUTION OF PARTNERSHIP is made on the…………………….. day of

…………………………20……………….. between A, of the first part (continuing
partner), B of the second part (continuing partner), C of the third
part (retiring partner).

WHEREAS by a Deed of Partnership dated…………………… made between the

parties hereto, they became and continued as partners for the purpose
of carrying in the business of ………………………at on terms contained therein
having an equal share in the profits thereof with equal liability on
account of loss.

AND WHEREAS the said business has been suffering losses for the
last seven years.

AND WHEREAS the party of the third part has withdrawn from the said
business with effect from .......... day of …………………..20………………..

AND WHEREAS the parties hereto have filed the requisite notice with
the Registrar of firms notifying the dissolution of the partnership.

NOW IT IS HEREBY AGREED AND DECLARED AS FOLLOWS:

1. That the partnership shall be deemed to have been dissolved by

mutual consent as from the... day of............. 20... and the said
business shall henceforth belong to and be carried on by the said A
and B as partnership.

2. That in consideration of the sum of Rs.. now paid vide cheque

No...... ..... dt............. drawn on......, by the said A and B
(continuing partners) to the said C (retiring partner), the said C
hereby assigns to the said A and B, all his share and other right,
title and interest in the said dissolved partnership, the goodwill,
fixtures, fittings, book and other debts, benefits of contracts and
all effects thereof to have and to hold the same unto and to the use
of the said A and B absolutely and forever.

3. That the said A and B shall be jointly entitled to the properties

and assets of the dissolved partnership, with power to appropriate the
same for their use and benefit and to ask, demand, sue for, recover
and receive, to sign and give effectual receipts and discharges for
all the debts due or owing or in any manner belonging to the said
partnership.
4. That the said A and B shall be jointly and severally liable for the
debts and liabilities of the said dissolved partnership and also all
future rent of the partnership business premises.

5. That each of the parties hereto shall sign, execute and do all such
further deeds and documents, acts and things as the other parties may
reasonably require for completely effectuating this agreement and each
party shall pay his own costs in connection therewith.

6. That C shall not for a period of years from the date hereof, carry
on or be engaged either directly or indirectly or as employee or
director of any company, any business similar to that of the dissolved
partnership within a radius of ................ miles from the place
of business.

In witness whereof the parties to this Deed have hereunto put their
respective hands on the day, month and year first above written in the
following of the witnesses :

1. witness A……………………………….

2. witness B……………………………….

C……………………………….