General Partnership Deed
General Partnership Deed
This Deed of Partnership is made on January 10, 2050, between [Your Name], residing at [Your Company Address], hereinafter referred to as the "First Partner", and [Partner's Name], residing at [Partner's Address], hereinafter referred to as the "Second Partner".
I. Name and Nature of the Partnership
The partners hereby form a general partnership under the name of JD & JS Consulting, which shall engage in providing marketing consultancy services. The partnership shall commence on the date of this agreement and shall continue until terminated as provided herein.
II. Contributions
Each partner shall contribute to the partnership the following:
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[Your Name] shall contribute $10,000 in cash.
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[Partner Name] shall contribute office equipment valued at $10,000.
III. Capital and Profits
The capital of the partnership shall be contributed as detailed in Section 2. Profits and losses of the partnership shall be shared equally between the partners unless otherwise agreed upon in writing.
IV. Management and Authority
The partners shall have equal rights in the management and conduct of the partnership's business. Decisions relating to the ordinary course of business shall be made jointly by the partners. Major decisions, including but not limited to entering into contracts exceeding $20,000, acquiring or disposing of assets exceeding $15,000, or admitting new partners, shall require the unanimous consent of all partners.
V. Books of Accounts
Accurate books of accounts shall be maintained by the partnership, and they shall be kept at the principal place of business. The partners shall have access to the books of accounts at all reasonable times.
VI. Withdrawal of Capital
No partner shall withdraw any part of their capital contribution without the consent of all partners.
VII. Dissolution
The partnership may be dissolved at any time by mutual agreement of the partners. Upon dissolution, the assets of the partnership shall be liquidated, and the proceeds shall be distributed among the partners in accordance with their respective capital account balances.
VIII. Dispute Resolution
Any disputes arising out of or in connection with this partnership agreement shall be resolved through arbitration in accordance with the rules of [Arbitration Institution], with the seat of arbitration being [Location].
IX. Signatures
[Your Name]
[Date Signed]
[Partner's Name]
[Date Signed]
NOTARIZATION:
State of [STATE], County of [COUNTY]
On this [DATE], before me, a Notary Public in and for said county and state, personally appeared [Your Name], known to me to be the persons whose names are subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
[NOTARY PUBLIC NAME]
Notary Public in and for [STATE]
My Commission Expires: [EXPIRATION DATE]
