Contents of partnership agreement

Contents of partnership agreement

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a) Name(s) and address(s) of both the firm and the partners
b) Capital to be contributed by each partner
c) The profit sharing ratios that may be expressed as a fraction or as a percentage.
d) Salaries to be paid to any partners who will be involved in the active management of the
business
e) Any interest to be charged on drawings made by the partners.
f) Interests to be given to the partners on their capital balances.
g) Procedures to be taken on the retirement or admission of a partner.

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Titany answered the question on December 10, 2021 at 11:21

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