Business contract: Partnership Agreement




(full name and registration number)
(“the First Partner”)



(full name and registration number)
(“the Second Partner”)



(full name and registration number)
(“the Third Partner”)



1          Interpretation and preliminary


The headings of the clauses in this agreement are for the purpose of convenience and reference only and shall not be used in the interpretation of this agreement.


1.1        the following terms shall have the meanings assigned to them hereunder:


1.1.1     “the Effective Date” means ______________________ (date from which partnership is to take effect);

1.1.2     “Participation Ratio” means the following ratios:  the First Partner: _______________________________ (first ratio);  the Second Partner:__________________________ (second ratio);              the Third Partner: ______________________________ (third ratio);


1.1.3     “the Partners” means _____________________________________________

_________________________________________(insert names of partners)

1.1.4     “the Partnership” means the partnership constituted on the effective date between the partners, the terms of which are recorded in this agreement;


2          Constitution of partnership


The Partners agree with effect from the Effective Date to carry on the business of

___________________________________________________________ (describe business),

In a partnership under the name _________________________________________________ (name of partnership)


3          Duration


3.1        The Partnership will commence on the Effective Date and shall continue indefinitely subject to the right of any partner to withdraw from the Partnership by giving not less than _________________(specify) written notice to the other partners


3.2        The Partners agree that the Partnership shall not terminate by reason of the death of any partner but shall continue between the surviving partners and the estate of the deceased partner.



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