Question

Define the partnership deed and state is elements

Answer 1

Partnership deed is a written document or agreement which includes all rights and obligations of each partner in detail manner of a partnership firm.

Answer 2

Answer:

A PARTNERSHIP DEED :- The written agreement which specifies that terms and conditions that govern the partnership.

1) Name of the firm:- The name of the firm should not be similar or identical to any registered firm.

2) Name and Addresses of all partners :- The actual name and permanent addresses of all partners whether active and inactive should be mentioned.

3) Nature of Business :- The nature of business which the partners are to carry on should be well and unanimous decided among them.

4) Amount of capital of the partners :- The amount of capital contributed or to be contribute d by each partner should be mutually decided, whether partners will contribute capital in the profit ratio or not should all the decided .

5) Rules Regarding operation to bank account :- The name of the partner or partners authorised to sing on cheques their names should be mentioned in the deed.