145 Forms Available for 'partner'

PARTNERSHIP AGREEMENT-LIMITED    When the partnership liquidates or when the interest of any Partner is liquidated, the partnership shall distribute its cash and/or assets among the Partners (or to the Partner whose interest is being liquidated), in accordance with capital account balances (see Section 7(a)).    (c)  No Limited Partner shall be personally liable for any liabilities or obligations of the partnership or the General Partners.    (b)  The interest of a Limited Partner in the profits, losses and current ...

PARTNERSHIP AGREEMENT-GENERAL    In the event of the death, physical or mental incapacity, or withdrawal of either Managing Partner from the Partnership, the surviving Partners shall have equal rights in the management of the Partnership and shall appoint successor Managing Partners.   If the remaining Partners elect not to purchase the interest of the retiring Partner, then the Partners shall proceed with reasonable promptness to liquidate the business of the Partnership.    (b)  If any Partner shall be adjudged ...

CONTINUATION OF INCOME PAYMENTS    Upon the death of any partner, the partnership business shall not terminate, but shall be continued as a partnership among the surviving partners and the estate of a deceased partner.   Upon the retirement of any such partner, the partnership business shall not terminate but shall be continued as a partnership among the surviving partners and the retired partner.   Should the partners owning ________ percent or more of the interests in the profits and losses of the partnership determine ...

ATTORNEY’S PAYMENTS TO DECEASED PARTNER'S ESTATE    Should any partner desire to withdraw from the partnership, he shall serve upon the other partners at the principal office of the partnership written notice of his intention to withdraw.   The partnership shall be dissolved upon the demand of any two of its partners, or upon the demand of any one of its partners if another partner has served written notice of intention to withdraw from the partnership, in which event the partners shall proceed with reasonable promptness to liquidate and ...

COMPENSATION TO PARTNERS UPON    The remaining partners shall have the right either to purchase the retiring partners entire interest in the partnership or to terminate and liquidate the partnership business. (B)  If the remaining partners do not elect to purchase a retiring partners interest in the partnership, the managing partners shall proceed with reasonable promptness to liquidate the business of the partnership. (B)  If the surviving partners do not elect to purchase the decedents interest in the partnership, the ...

PARTNERS-POST DEATH-PAYMENTS IN GUARANTEED AMOUNTS    Any partner may withdraw at the end of any calendar year, provided such withdrawing partner gives written notice to each of the other partners of his intention to withdraw at least _________ month(s) before the effective date of such withdrawal.   There shall be two classes of partners, senior partners and junior partners.   Any withdrawing partner or the estate of any deceased partner shall not be entitled to share in the profits of the continuing partnership, and the partners of the ...

TWO PARTNERS’ FISCAL YEAR PARTNERSHIP    The remaining partner shall have the right either to purchase the retiring partners interest in the partnership or to terminate and liquidate the partnership business. (B)  If the remaining partner does not elect to purchase the interest of the retiring partner in the partnership, the partners shall proceed with reasonable promptness to liquidate the business of the partnership.   Upon the death of either partner, the surviving partner shall have the right either to purchase the interest of...

MAJORITY ARBITRATION BY PARTNERS  MAJORITY ARBITRATION BY PARTNERS If at any time a partner in  the firm has a dispute of any  type with regard  to business dealings, the claiming partner must submit the dispute in writing to each of the partners of the firm so _______________ (he/she) may receive individual consideration of each partner.   This dispute shall be resolved by a majority vote of  the remaining partners and shall be binding.

LIABILITY RELEASE BY PARTNERS  LIABILITY RELEASE BY PARTNERS In the event of  withdrawal, retirement, death, or otherwise dissolution by any partner in the firm, the remaining partners shall have the authorization to release that partner from any further indebtedness resulting from actions taken by the firm.   The terms of such a release shall be proclaimed in a written agreement established by the remaining partners and approved by those partners holding _____________________ percent of the firms assets.

STATEMENT OF FINANCIAL AFFAIRS    If the case is filed under Chapter 12 or Chapter 13, a married debtor must furnish information for both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed. The term insider includes but is not limited to: relatives of the debtor; general partners of the debtor and their relatives; corporations of which the debtor is an officer, director, or person in control; officers, directors, and any person in control of a corporate ...

CEASE OF AGREEMENT DUE TO DEATH OF A PARTNER  CEASE OF AGREEMENT DUE TO DEATH OF A PARTNER As a legally binding addendum and amendment to our partnership agreement dated ______________________ we, __________________________________________ and ________________________________________________________ submit the following: ____________________________________________________________ In the event of death of one of the partners, the living partner agrees to terminate partnership within ________________ ( days or weeks ) of death of partner.

BARRING OF GOODWILL  As a legally binding addendum and amendment to our partnership agreement dated ______________________ we, _________________________________________ and ____________________________________________________ submit the following: ______________________________________________________________________ In the event of retirement or death of a partner, and after determining the value of interest of that partner, it is agreed as a provision of the contractual agreement, that the estate of the ...

NOTICE OF PARTNER EXPULSION  NOTICE OF PARTNER EXPULSION A notice shall be sent to any partner who has been injured or determined of unsound mental facility to carry out obligations of the partnership for a period of __________. This notice shall inform said partner of _________________ (his/her ) impending expulsion on ________________________ (days) after this notice is sent or served, this partner may be expelled by a majority vote of remaining partners.

STATEMENT OF FINANCIAL AFFAIRS    If the case is filed under Chapter 13, a married debtor must furnish information for both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.   (Married debtors filing under Chapter 12 or Chapter 13 must state income of both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.)<   If a joint petition is filed, state income for each spouse separately (Married ...

LIMITATION ON-SPECULATION BY PARTNER  No partner shall have the authority to engage in any speculation in the following areas: __________________________________________________________________ __________________________________________________________________ unless ___________ (he/she) first obtains the written consent of the remaining partners. Although, if a partner enters into any type of speculation falling outside the guidelines of the aforementioned categories that partner shall inherently accept all liability incurring ...

DISBURSEMENTS UPON TERMINATION OF CONTRACT  As a legally binding addendum and amendment to our partnership agreement dated ______________________ we, _________________________________________ and ____________________________________________________ submit the following: ______________________________________________________________________ Upon termination of the contract of partnership, each and every partner will repay any and all money that was advanced to partners by the partnership, and any other moneys that are owed the ...

OPTION OF PARTNER TO RETIRE  OPTION OF PARTNER TO RETIRE Upon reaching the age of _________ years ,any partner may exercise  the right to retire form the partnership, but is not forced to do so. If so intended retiring partner must provide a written statement of _____________________________ his or her intentions giving the other partners at least ______________________ (days, weeks, or months ) notification.

BUSINESS CONDUCTION BY PARTNERS  BUSINESS CONDUCTION BY PARTNERS On behalf of the firm, each partner shall act as a representative of the firm in the following areas: ______________________________________________________________________ However, neither partner may enter the firm into debt for a sum in excess of ____________________ ($__________), without first drawing up a written agreement and obtaining unanimous approval by all partners.

OPTION TO RETIRE EXPELLED PARTNER  OPTION TO RETIRE EXPELLED PARTNER Any partner to be expelled holding at least _________ percent of the firms interest has the right to retire from the partnership as stipulated in Section __________ of this contract and providing that partner also meets the age and service requirements in that section.   In addition, this partner must not have been expelled because of any dishonest actions on _____________ (his/her ) part.

NON-WORKING PARTNER EXPENSES  NON-WORKING PARTNER EXPENSES For all debts incurred by all non-business activities each partner shall assume individual responsibility, and shall not jeopardize the partnership capital in any manner.   Even the expenses accrued in defending the partner from actions of another partner or the partnership to collect this amount shall be personal responsibilities.