how to draft the following clause in a partnership deed


7. Admission of a New Partner

Defines the process for adding new partners in the future.

💡 Example Clause:
"A new partner may be admitted only with the unanimous consent of all existing partners."

📌 Tip: Mention the capital contribution and profit-sharing terms for new partners.

Comments

Post a Comment

Popular posts from this blog

Sample Partnership Deed Template for Indian Partnership Firms

Sample Partnership Deed Template for Indian Partnership Firms A Partnership Deed is a written agreement between two or more individuals who wish to start a business together and share profits and liabilities. In India, a well-drafted Partnership Deed is crucial for ensuring smooth operations and avoiding disputes. Below is a comprehensive template for drafting a Partnership Deed for an Indian Partnership Firm. Partnership Deed Format PARTNERSHIP DEED This Partnership Deed is executed on this ___ day of ______ , 20 , by and between: Mr./Ms. [Partner 1 Name] , S/o/D/o [Parent’s Name], residing at [Address], hereinafter referred to as the First Party ; Mr./Ms. [Partner 2 Name] , S/o/D/o [Parent’s Name], residing at [Address], hereinafter referred to as the Second Party ; [Additional Partners, if any] ; (Collectively referred to as the "Partners" and individually as a "Partner") The Partners have decided to form a partnership firm under the Indian Partnership Act, 19...
Read more