Fill and Sign the Partnership Agreement 497332216 Form

Checklist - Partnership Agreement 1. Names and addresses of proposed partners. 2. Proposed partnership name and domicile. 3. Purposes for which proposed partnership is to be created. 4. Requirements of state statutes under which proposed partnership is to be formed. 5. Date of termination or contingency that will terminate agreement or general partnership. 6. Contribution to be required of proposed partners and dates to be required. A. Description of contributions if in property. B. Amount of contributions if in cash. C. Additional contributions required during duration of proposed partnership. 7. Division of profits and losses among proposed partners. A. Determination of each partner's interests in profits and losses. B. Criteria for distribution of profits or losses. C. Reserve funds required prior to distribution of profits. 8. Participation of partners in business. A. Duties of each partner. B. Hours to be expended on behalf of business. C. Prohibition against engaging in competing activities. D. Right to share in business management. 9. Liabilities of each partner and partnership. A. Partnership's liabilities to partners. B. Partnership's liabilities to third parties. C. Partners' liabilities to third parties and to each other. D. Partners' liabilities on their separate obligations. 10. Accounting practices required of partnership. 11. Maintenance of books and records. 12. Sales of partnership property or interests to third parties or to other partners. 13. Change of partner's status by withdrawal, death, retirement, or expulsion, and addition of new partner. 14. Dissolution and winding up of partnership business . 15. Distribution of partnership assets. 16. Date of agreement. 17. Signature of parties.