A Legal partnership contract, as the name depicts, is based on legal term & conditions to commence a small to huge business partnership. The standard business rules and termination clauses are the main attributes of such a contract.

Sample Legal Partnership Contract:

Partnership contract: LP/ 23

This partnership contract is created and entered on December 24th, 2010 between Mr. Jack Turner, Permanently located: office no: 2, Spencer Society Cathedral Road, Ottawa, Canada, hereinafter called as the partner 1.

And

Ms. Cathy Graham, official address: office No: 3, 6th floor, Rose Plaza, Salt Lake Town, Ottawa, Canada, hereinafter referred as partner 2.

Partner 1 and Partner 2 are interested in a joint venture in their business, and they are declaring their legal partnership.

This contract is starting on December 26th, 2010 and is terminating on December 26th, 2011.

Legitimate term & conditions for this contract are as following:

Partnership interests:

Both the partners will participate in investments, profits and losses together. Following mentioned official affairs are handled by the both:

  • Recruitment of any staff required
  • Management related decisions
  • Accounting examination & finance statements
  • Transaction dealings with any external party

Partnership Rights:

Both partners will be responsible for patenting the legitimate rights for commencing the business. Economic rights and social privileges of partnership for both the partners are mandatory.

Dissolution:

Termination of the business can take place in underneath mentioned cases:

  • Death of any of the partners
  • Any partner willing to end the partnership
  • Co-partner wrongfully uses the rights and causing a violation to the above mentioned clauses.

Acceptance of the legal partnership contract:

Signature of the Partner 1:

Jack Turner

Signature of the partner 2:

Cathy Graham

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