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Partnership deed refers to a binding legal agreement between partners that govern the operation of partnership form of business. The key content of the deed include;
1.Name(s) and address(s) of both the firm and the partners
2.Capital to be contributed by each partner
3.The profit sharing ratios that may be expressed as a fraction or as a percentage.
4.Salaries to be paid to any partners who will be involved in the active management of
the business
5.Any interest to be charged on drawings made by the partners.
6. Interests to be given to the partners on their capital balances.
7.Procedures to be taken on the retirement or admission of a partner
skymucdan answered the question on October 11, 2017 at 08:55
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