Question

Aim and objective of winding up of partnership firm

Answer 1

 partnership deed, or partnership agreement, is a legal document that lays out the terms and arrangements of a particular business partnership. Its objective is to explicitly state the understandings and agreements that form the basis of your partnership so you can refer back to them as needed. Partnership deeds protect the parties they cover in case of discord. They also offer opportunities to envision potential difficulties and proactively present solutions. A partnership deed should cover the division of work between partners, as well as how profits will be shared. It should also provide an exit strategy, laying out a plan for proceeding if the collaboration turns out to not be mutually advantageous.