HOW TO DRAFT PARTNERSHIP DEED BY YOUR OWN AT NYAYASEVAK PORTAL
Nyayasevak has introduced a very unique feature of drafting Partnership Deed at your own. This unique feature has enabled our users to get the Partnership Deed drafted at their convenience of time. Nyayasevak has simplified the procedure of drafting the Partnership Deed by merely filling up the blanks easily answerable by any individual. Once all the requisite details are filled and once the requisite payments are made by the user, our team of eminent experts will scrutinize the Deed and suggest appropriate corrections, if any and will accordingly finalize the Deed.
Nyayasevak has introduced this unique feature of drafting the Partnership Deed by your own. Our eminent Team of experts at Nyayasevak, as soon as receives such inquiry will immediately scrutinize the said deed and contact you during the working hours and will accordingly suggest appropriate corrections, if any. Our eminent team of experts at NYAYASEVAK will assist you fully during the course of drafting the said Partnership Deed.
PARTNERSHIP DEED AND ITS USE
A Partnership Agreement is an agreement between two or more individuals who would like to manage and operate a business together in order to make a profit. And can be contrasted to other common business structures such as a sole proprietor, a company or a trust. In a partnership, several partners are able to work together (unlike a sole proprietor). Each partner shares a portion of the partnership's profits and losses and every partner is personally liable for the debts and obligations of the firm. A partnership is not a separate entity from the partners. If the partnership incurs a liability, the partners are personally responsible for it. Furthermore, a partner can become liable for debts that another partner has incurred on behalf of the partnership.
WHAT TO ADD IN PARTNEERSHIP DEED
A Partnership Deed can be created either as a first step to outline partner’s expectations and responsibilities before the partners begin doing any business together. Usually a Partnership Deed consist of Partnership Name, Purpose of the Partnership, Principal place of Business, Partner information’s, Capital contributions, Ownership interest, Profit/Loss distribution, Partnership dissolution etc.
The Partnership Act, 1932 is the law governing partnerships in India along with the general principles of contract law, may also apply.
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