how to draft the following clause in a partnership deed


9. Expulsion of a Partner

Defines the grounds on which a partner can be removed from the firm.

💡 Example Clause:
"A partner can be expelled for misconduct, fraud, or repeated violation of partnership terms, with the consent of all other partners."

📌 Tip: Expulsion should be done in good faith to be legally valid.

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