Partnership Agreement

THIS PARTNERSHIP AGREEMENT is made this [DATE] BETWEEN [PARTNER_1_NAME] of [PARTNER_1_ADDRESS] (hereinafter referred to as the "First Partner") of the ONE PART. AND [PARTNER_2_NAME] of [PARTNER_2_ADDRESS] (hereinafter referred to as the "Second Partner") of the OTHER PART. WHEREBY IT IS AGREED AS FOLLOWS: 1. NAME AND BUSINESS The parties hereby form a partnership under the name of [PARTNERSHIP_NAME] to engage in the business of [BUSINESS_NATURE] at [PRINCIPAL_PLACE]. 2. TERM The partnership shall commence on [DATE] and shall continue until dissolved by mutual agreement or by operation of law. 3. CAPITAL CONTRIBUTIONS The initial capital of the partnership shall be contributed as follows: First Partner: [CAPITAL_CONTRIBUTION_1] Second Partner: [CAPITAL_CONTRIBUTION_2] 4. PROFITS AND LOSSES The net profits and losses of the partnership shall be divided equally between the partners. 5. MANAGEMENT Both partners shall have equal rights in the management of the partnership business. No partner shall, without the consent of the other partner, enter into any contract or incur any liability on behalf of the partnership exceeding [AMOUNT]. 6. BANKING All funds of the partnership shall be deposited in its name in such bank account or accounts as shall be determined by the partners. All withdrawals therefrom are to be made upon cheques signed by both partners. IN WITNESS WHEREOF the parties hereto have executed this Agreement the day and year first above written. SIGNED by the ... [Sign up to generate the complete, customized document with your case facts]