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hari (contractor)     06 May 2011

Partnership deed

Respected lawyers,

 

We are going to start a construction company for apartments.  so we are registering a partnership deed firm. 

Here main point is we have to give 40% share to land owner and 60% belongs to builders.

 

in that 60% share of builders we are partners equally...here main thing is my friend is investing all the money and am looking after the whole construction he just keeps the money but the profit should be shared equally that is the agreement done by both of us...

 

How to keep that point legally stand in the partner ship firm deed...



Learning

 2 Replies


(Guest)

Yes,this is possible.Send me the particulars and I will draft an agreement for you free of cost.

The test of a partnership is profit sharing agreement among the partners and NOT the amount invested by the partners.This has been held by many SC decisions time to time.

 

 

Shivnath Ttripathi

shivnathtripathi@fundipr.com

Bharatkumar (ADVOCATE )     07 May 2011

It's depend on partners but they write this condition in Deed.


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