Partnership deed
असेही म्हटले जाते: partnership agreement
The written agreement between the partners of a firm on capital, profit sharing, duties and exits. Registering the firm is optional, but an unregistered firm cannot sue to enforce its contracts.
A partnership deed records how a partnership firm will run: who the partners are, how much each puts in, how profits and losses are shared, who manages the business, and how partners can join, retire or dissolve the firm.
The law behind it
The Indian Partnership Act, 1932 governs partnership firms. Section 4 defines partnership as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. A firm can be registered with the State Registrar of Firms under Section 58. Registration is optional, but under Section 69 an unregistered firm, or a partner of it, cannot file a suit against a third party to enforce a right arising from a contract. The deed carries stamp duty under the State stamp law.
Clauses to include
- Firm name, business, place of business and duration.
- Capital contribution of each partner, interest on capital, and drawings.
- Profit and loss sharing ratio, and partners' remuneration.
- Authority to sign, borrow and open bank accounts.
- Admission, retirement, death of a partner, and dissolution.
- Dispute resolution.
Liability
For limited liability, consider a limited liability partnership, which needs an LLP agreement and registration with the Registrar of Companies.
Draft a partnership deed, and read partnership agreement clauses in India.
खालील स्रोतांच्या विरुद्ध तपासले ७ नोव्हेंबर, २०२६ IST. भारतीय कायद्याबद्दलची सामान्य माहिती, तुमच्या खटल्यासाठी कायदेशीर सल्ला नाही.
ही संज्ञा वापरणारे दस्तऐवज
अधिक स्पष्ट करणारे मार्गदर्शक
- Partnership Agreement: The Default Rules That Apply If You Don't Write Your Own
A vague partnership deed doesn't leave a gap. The Partnership Act fills it automatically, sometimes in ways that genuinely surprise the partners who assumed something different.