Скачать или смотреть How to draft a Partnership Deed? by Jeet Sinha

Sample draft: https://legalsynk.com/easy-procedure-...

Hello guys, welcome back to my YouTube channel! In today's video, I am going to discuss how you can draft a partnership deed. Join me, Jeet Sinha, as we dive into the importance of a partnership deed and learn how to create one.

According to Section 5 of the Partnership Act, a partnership is not created by status but by contract. Therefore, having a well-drafted partnership deed becomes crucial for any business venture. In this video tutorial, I will guide you through the process of making a partnership deed step-by-step.

To begin with, let's understand that a partnership deed is an agreement between two or more partners who engage in the same business for profit. This agreement forms what we call a "partnership firm." We will explore all aspects of this agreement together.

Starting with the basics, it is essential to have proper documentation for your partnership deed. A stamp duty worth Rs. 500 or equivalent should be affixed on the document as per legal requirements.

Moving forward, we will examine each section of the partnership deed and its significance. It is important to note and record the date on which the partnership deed is being executed – in our case here it is mentioned as October 27th, 2023 at Dehradun.

Next up are introducing and identifying all partners involved in this agreement. We will refer to them as "first partner," "second partner," etc., depending on their order of mention in the document.

Throughout this comprehensive tutorial on drafting a partnership deed, we will cover various topics such as understanding nature of business activities carried out by partners (in our example: Hotel, Hostel Restaurant & PG), defining obligations and rights of each partner involved in running these businesses effectively.

By creating an accurate and legally binding partnership deed like MSSKC (name used for illustration purposes), partners can clearly define their relationship while recording their respective rights and obligations within this formalized agreement.

Stay tuned for the next part of this video series, where we will continue exploring the remaining sections of a partnership deed. Don't forget to like, share, and subscribe to my channel for more informative content on legal matters related to business partnerships!

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