Why it is essential to have a Partnership Deed Class 12

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See, in order to form a partnership there is no need to have written agreement. A partnership can be formed in oral form also.

But it is advisable to have a written agreement where all terms and conditions mutually decided by all partners are categorically written and signed by all partners and registered in the law.

Such written document is called partnership and it is the legal document. If any disputes arises among partners in future. Such disputes are settled on the basis of partnership Deed.

So, partnership deed is not mandatory but advisable to avoid future disputes.

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Anurag Pathak
Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.
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