what is partnership deed? and why is a partnership deed prepared?
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A partnership deed, also known as a partnership agreement, is a document that outlines in detail the rights and responsibilities of all parties to a business operation. It has the force of law and is designed to guide the partners in the conduct of the business.
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Partnership dead:
It is a partnership agreement between the partners of the firm which outlines the terms and partners.
1. A partnership deed is important and is prepared to provide a clear understanding of the soles, responsibilities, and involvement of each partner, which ensures the smooth summing of the operations of the firm.
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