Question

how is partnership agreement?which agreement is more desirable?​

Answer 1

Partnership agreements are written documents that explicitly detail the relationship between the business partners and their individual obligations and contributions to the partnership.

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Answer 2

Answer:

The purpose of a partnership agreement is to protect the owner's investment in the company, govern how the company will be managed, clearly define the rights and obligations of the partners, and determine the rules of engagement should a disagreement arise among the parties.

Partnership agreement may be oral or written. ... However, written partnership deed is desirable than oral agreement as it helps in avoiding disputes and misunderstandings among the partners. Also, it helps in settling disputes (as the case may be) among the partners, as written partnership deed can be referred to anytime.