Contents of a partnership deed

Outline ten Contents of a partnership deed

The contents of a partnership deed are;-

  • Nature of the business.
  • Contribution of the partners (capital).
  • Profit sharing ratio.
  • Rules for determining interest on capital Method of calculating goodwill.
  • Power of partners.
  • Accounts and audit.
  • Expulsion of partners.
  • Procedure for settlement of disputes.
  • The provision as to whether the firm will continue in business after the retirement, death or insolvency of the partners.

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