article of co-partnership

Cards (11)

  • In a contract of partnership, two or more persons agree to contribute money, property, or industry to a common fund with the intention of dividing the profits among themselves
  • The name of the partnership.
  • The names, addresses of the partners, classes of partners stating whether the partner is a general or a limited partner.
  • The effective date of the contract.
  • The purpose and principal place of business of the partnership business.
  • The capital of the partnership stating the contributions of each of the partners.
  • The rights and duties of each of the partners.
  • The manner of dividing profit or loss among the partners.
  • The conditions under which the partners may withdraw money or other assets;
  • The manner of keeping the books of accounts.
  • The causes for dissolution and the provision for arbitration in settling disputes.