Business

Hi....

I am properiter of a transporter having 5 vehicles running. My friend wish to work with me in partnership for a new vehicle only not others. The registration of new vehicle would be in my name, my friend will provide only cash to me for bying of new vehicle. We dont wish to open any other partnership firm, new vehicle will runnig in my name. We will distribute profit earned by new vehicle.

Can we do this, is it legal...?

Any legal documentation required for my friend for claiming of profit share ?