Key description
- The Partnership Agreement is used to form a general partnership. This form cannot be used to from any type of entity except a general partnership. Partnerships are the organizational form most subject to problems because people assume they are more informal than they are. On many occasions, partners expect their partners to concede on points they know they would not do in a standard corporate sett
Language
Categories
Covered clausesClauses
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1. Name and Place of Business.
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2. Purpose.
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3. Term.
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4. Capital Accounts.
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5. Profits and Losses.
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6. Books and Records of Account.
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7. Future Projects.
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8. Time and Salary.
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9. Transfer of Partnership Interests.
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10. Death, Incompetency, Withdrawal, or Bankruptcy.
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11. Procedure on Dissolution of Partnership.
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12. Title to Partnership Property.
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13. Leases.
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14. Controlling Law.
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15. Notices.
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16. No Waiver.
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17. Entirety of Agreement.
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18. Governing Law.
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19. Headings in this Agreement
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20. Severability.
