Partnership Deed

Loose / Light - 4 Parties

No. of Prokens Required: 3 |

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Description:

This partnership deed can be used to draft for establishing a general partnership for four parties under the law of a specified jurisdiction. This deed is drafted to impose looser / lighter obligations on the parties.

This deed provides a basic partnership framework only.

A deed must be witnessed by another person over the age of 18 and the witness cannot be a party to the deed.

The Partnership Board shall meet quarterly. In addition, any Partner has the right to convene a meeting of the Partnership Board at any time. Any meeting of the Partnership Board shall be called by the Chairperson and conducted in accordance with the provisions of this clause 7. The quorum for any meeting of the Partnership Board (other than an adjourned meeting) is a majority in number of the Directors. At an adjourned meeting any two (2) Directors or their alternates present shall be a quorum.

A meeting of the Partnership Board may consist of a conference between Directors who are not all in one place, but of whom each is able (directly or by telephonic communication) to speak to each of the others and to be heard by each of the others simultaneously; and the word meeting in this deed shall be construed accordingly.

In the event of deadlock on any vote taken pursuant to clause 7.10 which cannot be resolved after a further meeting of the Partnership Board, the matter shall be referred to the Chairperson / Chief Executives or other senior representatives of the Partners whose determination (if unanimous) shall bind the Partnership Board.

How to use this Document?

This document should be carefully read by the Partners in the proposed partnership.

Partners who wish to establish the partnership should complete their personal and business information as much as they could.

Please provide the territory / jurisdiction where the partnership will be formed, the name of the partnership, and the purpose of business of the partnership in creating this deed. The initial capital contribution from each partner and property and assets initially owned by the partnership should also be indicated.

How to Tailor the Document for Your Need?

  1. Create Document: Click “Create Document” button and fill in the details of the parties. You can click the “Fill with Member’s Information” button to complete the party’s information with your personal or business information saved to your account.
  2. Please fill in any additional information by following the step-by-step guide on the left hand side of the preview document and click the “Next” button.
  3. When you are done, click the “Get Document” button and you can download the document in Word or PDF format.
  4. Please get all parties to review the document carefully and make any final modifications to ensure that the details are correct before signing the document. Each party should have a copy of the executed document.
Document Type:

Deed /poa / authorisation / agency / escrow

Category:

Business > Setup of Business / Entity > Partnership / Limited Partnership / LLP Agreement

 
Keywords:

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4 parties

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light obligation

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