ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Partnership deed is a written legal document that contains an agreement made between two individuals who have the intention of doing business with each other and share profits and losses. It is also called a partnership agreement.

Detailed explanation-2: -A business partnership agreement is a legal document between two or more business partners that spells out the business’s legal structure and purpose. It outlines the following information: Individual partners’ responsibilities. Capital contributions.

Detailed explanation-3: -A business partnership agreement, also known as a partnership contract or articles of partnership, is a legally binding document that determines the roles and responsibilities between two individuals or entities acting as business partners.

Detailed explanation-4: -A partnership agreement is a legal document that dictates how a small for-profit business will operate under two or more people. The agreement lays out the responsibilities of each partner in the business, how much of the business each partner owns, and how much profit and loss each partner is responsible for.

Detailed explanation-5: -A contract known as a partnership deed, which specifies features of general administration, such as who will perform what job and what will be their share of the profits, can be used by partners to define their joint rights and obligations. It is subject to change with the express or implicit approval of all partners.