Mastergp
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A partnership business may be established without any formality although the partners third parties; they may make such agreement between themselves in respect of the internal management of the firm.
It is accordingly usual for people entering into partnership to express their intention in a partnership agreement known as deed of partnership. Deed of partnership may be defined as agreements, rules and regulations guiding the members of a partnership.
The agreement contains the following rules and regulations :
The name of the partner:
Well one need to know the name of the person he is partnering with, one is not expected or encourage to partner a business with a stranger he need to know the person well, they could be friends, relative of brothers etc.
The name of the firm:
The name of the firm should also be considered and mist be agreed by they two partners or business owners, because when they are disagreeing each other concerning the name best fit for the firm it could cause huge trouble.
Duration of each partners:
This are agreement the need to consider, for most people such business could close own after the death of a partner while some use years depending on individuals choice.
It is accordingly usual for people entering into partnership to express their intention in a partnership agreement known as deed of partnership. Deed of partnership may be defined as agreements, rules and regulations guiding the members of a partnership.
The agreement contains the following rules and regulations :
The name of the partner:
Well one need to know the name of the person he is partnering with, one is not expected or encourage to partner a business with a stranger he need to know the person well, they could be friends, relative of brothers etc.
The name of the firm:
The name of the firm should also be considered and mist be agreed by they two partners or business owners, because when they are disagreeing each other concerning the name best fit for the firm it could cause huge trouble.
Duration of each partners:
This are agreement the need to consider, for most people such business could close own after the death of a partner while some use years depending on individuals choice.
