PARTNERSHIP AGREEMENT
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PARTNERSHIP AGREEMENT
A Simple Partnership Agreement is necessary as a foundation of your business partnership. This agreement ensures that your interests, and that of your partners, protected. Apart from reflecting clearly what business terms the partners agree on, this agreement also provides guidance to mediate any disputes that may arise.

Simple Partnership Agreement
A Simple Partnership Agreement is essential for establishing a solid foundation in your business partnership. This legally binding document clearly outlines the agreed-upon business terms between partners and provides guidance for mediating any potential disputes. Crafted by legal professionals in Australia, our partnership agreement template is not only legally sound but also easily customisable to suit your specific requirements. With each purchase, you receive a free legal drafting booklet to guide you through the editing process seamlessly.
Comprehensive Coverage:
Our Simple Partnership Agreement includes clauses covering:
- Commencement
- Place of business
- Business names
- Retirement of partners
- Equal shares
- Capital contributions
- Further capital requirements
- Partnership assets
- Bank accounts
- Outgoings and expenses
- Net profits
- Duties of partners
- Execution of documents
- Personal debts
- Financial records
- Annual and quarterly accounts
- Dissolution of partnership
- Death of a partner
- Assignment
- Dispute resolution
The schedule contains details such as the date of the agreement, parties involved, commencement of the partnership, name and address of the partnership business, and a description of the partnership business.
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- Comprehensive Coverage: Ensuring you have everything you need in one place.
- Free Legal Drafting Booklet: Guiding you through the necessary steps in editing your documents.
- Easy Customisation: Each document is designed to be easily editable, allowing you to tailor the agreements to your specific needs without hassle.
- Legally Sound: All our documents are crafted by legal professionals and adhere to Australian legal standards, giving you confidence in their validity.
Implementing a Simple Partnership Agreement is crucial for ensuring transparency and preventing disputes within a partnership. By establishing a clear and detailed partnership agreement, partners can ensure a harmonious and efficient operation of the partnership, safeguarding the interests of all parties involved.
For those seeking professionally drafted Simple Partnership Agreement templates tailored to Australian law, resources such as Precedents Online offer comprehensive and customisable documents suitable for various partnership structures.
PARTNERSHIP AGREEMENT
An agreement that covers off all the essentials.
Clauses cover:
- Commencement
- Place of business
- Business Names
- Retirement of partners
- Equal shares
- Capital
- Further capital
- Partnership Asset
- Bank
- Bank account
- Outgoings and expenses
- Net profits
- Duties of partners
- Execution of documents
- Personal debts
- Financial records
- Annual and quarterly accounts
- Dissolution of partnership
- Death of partner
- Assignment
- Dispute resolution
- Notices
- SCHEDULE contains
- Date of agreement
- Parties
- Commencement of partnership
- Name of partnership
- Address of partnership business
- Description of partnership business
7 pages long.
PARTNERSHIPS
The following guide is intended as a basic overview and not a detailed treatment of the topic of partnership.
Overview
It is not necessary to have a written agreement for a partnership to come into existence. The existence of a partnership can be inferred from the facts or the conduct of its members.
Relevant law
The law of partnerships is contained in the common law and the various Partnership Acts in each state. The various Partnership Acts listed below are all relatively short and are designed to work together with the common law. The state acts are similar and they are mainly statutory consolidations of the common law and equitable rules. The content of the Acts should be read together with common law principles or equitable rules that have come into existence after the time the various Partnership Acts were passed.
The law of partnership, therefore, is not just what is contained in the Acts. Partnership law in its current form is an amalgamation of statute, common law and equity.
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