A general partnership agreement is a document which is framed when two or more than two parties agree to be partners in a business or any other kind of venture. By partners, it means that the profits and costs of the partnership shall be divided into the partners on a predecided basis. Any such document is a legally binding paper for the involved parties.
Sample General Partnership Agreement:
This agreement has been entered into as on the effective date of 17th March 2011
This agreement has been made between Mr. Bill Markson who is herein referred to as the partner 1 and Mr. Tom Bell who is herein referred to as the partner 2 in this partnership agreement.
The details of the parties/partners are given as follows:
Address: 3-H, Tommy street, Northern Square CA
Contact number: 464947934094
Address: S-67, first floor, Greg tower, South Avenue CA
Contact number: 4703947303030
The partners shall be running a book store in CA by the name of ‘Bill and Bell stores’ and shall be partners for a duration of 12 months.
PARTNER 1 shall be responsible for handling the management of the store along with recruiting staff members and looking after accounts.
The PARTNER 2 shall be responsible for looking after sales and marketing and ordering of books and other products.
The partners shall be entitled to equal profits and equal cost investment in the book store business.
Both the parties agree to the terms and condition and provide their signature as below: