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    Sample Partnership Agreement For California

    Uploaded by

    Stan Burman
    This sample partnership agreement for California is based on a partnership with five partners but can be modified for use with most uncomplicated partnerships. The sample has been revised and updated as of February 2016 and is 8 pages. The author is a freelance paralegal who has worked in California and Federal litigation since 1995 and has used this sample for many years. Note that the author is NOT an attorney and no guarantee or warranty is provided.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Sample Partnership Agreement For California

    Uploaded by

    Stan Burman
    708 views3 pages
    This sample partnership agreement for California is based on a partnership with five partners but can be modified for use with most uncomplicated partnerships. The sample has been revised and updated as of February 2016 and is 8 pages. The author is a freelance paralegal who has worked in California and Federal litigation since 1995 and has used this sample for many years. Note that the author is NOT an attorney and no guarantee or warranty is provided.

    Original Title

    Sample Partnership Agreement for California

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    This sample partnership agreement for California is based on a partnership with five partners but can be modified for use with most uncomplicated partnerships. The sample has been revised and updated as of February 2016 and is 8 pages. The author is a freelance paralegal who has worked in California and Federal litigation since 1995 and has used this sample for many years. Note that the author is NOT an attorney and no guarantee or warranty is provided.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    708 views3 pages

    Sample Partnership Agreement For California

    Uploaded by

    Stan Burman
    This sample partnership agreement for California is based on a partnership with five partners but can be modified for use with most uncomplicated partnerships. The sample has been revised and updated as of February 2016 and is 8 pages. The author is a freelance paralegal who has worked in California and Federal litigation since 1995 and has used this sample for many years. Note that the author is NOT an attorney and no guarantee or warranty is provided.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
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    At a glance
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    The key takeaways are that this document outlines the formation of a partnership to operate a business and addresses terms related to capital contributions, profit/loss sharing, and termination.

    The terms outlined include the name and business purpose of the partnership, authorization for one partner to sign a lease, and details regarding the fiscal year.

    Capital contributions will be in cash and structured with a single capital account maintained for all partners where no partner can withdraw capital without demand from another partner and capital accounts must be maintained proportionate to profit/loss sharing.

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    PARTNERSHIP AGREEMENT

    This Partnership Agreement is made on _________ between __________________,

    (partner one), ___________, (partner two), __________, (partner three), _____________,

    (partner four), and ________a (partner five). hereinafter referred to as Partners. The below

    signed hereby enter into this Partnership Agreement on behalf of themselves, their heirs,

    successors and assigns, and set forth following terms and conditions as constituting the

    Partnership Agreement in its entirety:

    1. Name and Business:

    The parties hereby form a partnership under the name of

    ___________________________________ to operate _______________________.

    1.1 The partnership's operations shall be primarily in the following field

    1
    or area: _____________________

    1.2 _________ signed the lease on behalf of the Partners and was fully

    authorized to do so.

    2. Term:

    The partnership shall begin on _______ , 20___ and shall continue perpetually until

    terminated.

    2.2 Upon termination or dissolution of the Partnership, the Partnership will be

    promptly liquidated, with all debts being paid first, prior to any distribution of the remaining

    funds. Distribution shall be made according to the percentage of ownership as set out in

    paragraph #3.

    2.3 The fiscal year of the partnership shall be from January 1 to December 31 of each

    year.

    3. Capital:

    The capital of the partnership shall be contributed in cash by the partners as follows:

    A Single capital account shall be maintained for all partners.

    No partner shall withdraw any part of their capital account.

    Upon the demand of any partner, the capital accounts of the partners shall be maintained

    at all times in the proportions in which the partners share in the profits and losses of the

    partnership.

    2
    The partnership shall be capitalized through cash, equipment and services as follows:

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