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Partnership Agreement Article Re: Consent of Spouse

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					A partnership agreement sets forth the terms and conditions that govern the relationship
between business partners and their obligations to the partnership. Without a written
partnership agreement, state law may determine the default rules as to the rights of
partners and how partnership assets and liabilities will be distributed. Depending on the
goals and purposes of the partnership, various provisions can be included in the
agreement detailing the rules that will govern the relationship between the partners and
what shall occur if specific contingencies arise. This partnership agreement article on
Consent of Spouse may be inserted into a partnership agreement and can be modified
depending on the partners’ specific needs.
                                  PARTNERSHIP AGREEMENT ARTICLE
                                      RE: CONSENT OF SPOUSE


If any Partner is married or is a registered domestic partner on the date of execution of this
Agreement, such Partner’s spouse or registered domestic partner shall execute and deliver to the
Partnership a consent of spouse or registered domestic partner, effective on the date hereof.
Notwithstanding the execution and delivery thereof, such Consent shall not be deemed to confer
or convey to the spouse or registered domestic partner any rights in such Partner’s shares of the
Partnership that do not otherwise exist by operation of law or the agreement of the parties. If any
Partner should marry, remarry, register, or re-register as a domestic partner subsequent to the
date of this Agreement, such Partner shall within thirty (30) days thereafter obtain his/her new
spouse’s or registered domestic partner’s acknowledgement of and consent to the existence and
binding effect of all restrictions contained in this Agreement by causing such spouse or
registered domestic partner to execute and deliver a Consent of Spouse Agreement
acknowledging the restrictions and obligations contained in this Agreement and agreeing and
consenting to the same.




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Description: A partnership agreement sets forth the terms and conditions that govern the relationship between business partners and their obligations to the partnership. Without a written partnership agreement, state law may determine the default rules as to the rights of partners and how partnership assets and liabilities will be distributed. Depending on the goals and purposes of the partnership, various provisions can be included in the agreement detailing the rules that will govern the relationship between the partners and what shall occur if specific contingencies arise. This partnership agreement article on Consent of Spouse may be inserted into a partnership agreement and can be modified depending on the partners’ specific needs.