Common Contracts
1 similar Partnership Agreement contracts
PARTNERSHIPPartnership Agreement • October 27th, 2018
Partnership is an improved from of sole trader in certain respects. Where there are like-minded persons with resources, they can come together to do the business and share the profits/losses of the business in an agreed ratio. Persons who have entered into such an agreement are individually called ‘partners’ and collectively called ‘firm’. The relationship among partners is called a partnership. Indian Partnership Act, 1932 defines partnership as the relationship between two or more persons who agree to share the profits of the business carried on by all or any one of them acting for all.
