Partnership
pramod
(Querist) 03 April 2010
This query is : Open
Respected Experts,
Please help me to have a proper partnership deed which is in accordance with the principles of law. I would like know in a situation of following circumstances what could be a better legal position in terms of its validity.
My client and his friend would like to start a garment business in partnership. Both of them mutually decided to invest the initial capital in equal and decided to share the profits and loss as well. Here an appropriate place of business was offered by a third person who is a lessee of premises which is very much convenient for the said partnership business. This lessee is only interested in a monthly fixed amount of income and would like to let the premises based on this understanding.More over lessee do not have any business presently running at the said premises and also having no interest in the said partnership. Conveniently the lesser had no objection of the same in this business if he (lessee) is a partner in the said business. My client and his friend would like to be an active partners in the said business and do not want lessee to be in the day to day business and operation of its accounts. In return my client and his friend would pay a fixed amount. But this fact is not known to the lesser.
Therefore, I request respective experts to share an appropriate form a partnership deed which will not violate any provisions of law in terms of sub letting and any other possible infringement laws.
This kind guidance could be a great help, Thank you.
Pramod. K.P.
