The partnership agreement outlined above between Singh Prakash and Emmanuel Ifeanyichukwu

Charles-Isama for their business Emsingh logistics covers essential elements of a partnership
arrangement, such as formation, purpose, term, capital contributions, profit sharing, management,
dissolution, and dispute resolution.

Formation: The clause establishing a general partnership under the laws of the Province of British
Columbia provides a legal framework for the partnership. It ensures that the partnership will be
recognized as a legitimate business entity, capable of entering into contracts, owning property, and
conducting business in accordance with the provincial laws.

Purpose: Defining the purpose of the partnership as "Port to door pickup and delivery" sets the
boundaries of the business activities the partners will engage in. This clarity prevents potential disputes
over the scope of operations and enables the partners to focus their efforts on the agreed-upon
business objectives.

Term: By specifying a starting date (August 4th, 2023) and indicating that the partnership will continue
until terminated as provided in the agreement, the term ensures a clear duration for the partnership's
existence. This temporal boundary helps manage expectations and allows the partners to plan
accordingly.

Capital Contributions: This section outlines each partner's initial capital contribution, whether in cash,
property, or non-monetary assets, establishing the financial commitment of each partner to the
partnership. This clause is crucial for funding the business and ensuring that each partner has a stake in
the venture.

Profit and Loss Sharing: The provision that net profits and losses will be distributed among the partners
in proportion to their capital contributions promotes fairness and incentivizes each partner to contribute
to the partnership's success. This distribution mechanism aligns the partners' interests and fosters a
sense of shared responsibility.

Management: Requiring unanimous consent for major decisions, such as assigning cheque-signing
authority, incurring significant expenditures, hiring or firing employees, and endangering partnership
property, ensures that all partners have equal decision-making power. Unanimous voting prevents any
individual partner from dominating the decision-making process and safeguards against potential abuse
of power.

Dispute Resolution: The inclusion of a mediation clause as the first step in resolving disputes emphasizes
the partners' commitment to resolving conflicts amicably. Opting for mediation before resorting to
litigation demonstrates a cooperative approach to conflict resolution, which can lead to more
satisfactory outcomes for all parties involved.

The contract is legally binding for the contracting parties because it satisfies the essential elements of a
valid contract:
Offer and Acceptance: The partners' willingness to associate themselves as partners and their
agreement to the terms and conditions of the agreement constitute an offer and acceptance,
respectively.

Consideration: Each partner's capital contribution represents consideration, as they are giving
something of value to the partnership.

Legal Capacity: The partners are individuals of legal age and sound mind, capable of entering into a
binding contract.

Intention to Create Legal Relations: The clear language used in the agreement indicates the parties'
intention to create legal relations and be bound by the terms of the contract.

Certainty of Terms: The agreement provides clear and specific terms regarding the purpose, capital
contributions, profit sharing, and decision-making processes, ensuring certainty in the agreement.

Overall, the partnership agreement is a legally binding document that protects the interests of both
parties and provides a solid foundation for the operation of Emsingh logistics. The comprehensive
nature of the contract and the inclusion of various clauses for dispute resolution and decision-making
promote a stable and successful partnership venture between Singh Prakash and Emmanuel
Ifeanyichukwu Charles-Isama.