Define Partnership Deed. Discuss its main contents.

Explanation

`A.` A partnership deed is a written document that contains terms and conditions agreed between the
partners who enter together in a partnership venture for profit making.

`B.` Having a partnership deed ensures that potential disputes are avoided by clearly defining the
terms of mutual agreement.

The partnership deed normally has the following contents :

1. Name of the firm.

2. Names and addresses of partners.

3. Nature of business.

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