Partnership agreement - compliances

Agreement deeds 868 views 2 replies

Chartered Accountant

177 Points Joined October 2011

Dear Friends,

I have drafted a Partnership Agreement for 2 Partners with 1 : 1 ratio. Can i omitt the nature of business from the

agreement so as to make it a general purpose agreement ?

And moreover, Do i have to make it a registered deed so as to apply for trade license?

Regards

Indranil

Replies (2)

B.com CPFA CFP(student)

57 Points Joined March 2012

as per my knowledge

You cannot omit nature of business from deed .
Registration of firm is not compulsory but its good to register it as any third party can sue registered / unregistered partnership firm ,but only registered firms can sue third parties & hence registration is opted in majority cases.

thanks