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New Hampshire Partnership Agreement

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New Hampshire Partnership Agreement Powered By Docstoc
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                             This Partnership Agreement is a written document that explicitly details the relationship
                             between the business partners and their individual obligations and contributions to the
                             partnership. The agreement states the nature of the business, the partners' capital
                             contributions and the management duties and restrictions of each partner. It contains many
                             of the standard provisions that are commonly included in partnership agreements, and may
                             be customized to address the specific needs of the partners. This document should be
                             used when forming a partnership located in New Hampshire.
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                                PARTNERSHIP AGREEMENT

 THIS PARTNERSHIP AGREEMENT (hereinafter “Partnership”) is made as of ____ [Month]
____ [Date], 20____, by and between ___________________ [Instruction: Insert the name of
1st party], residing at _______________________ [Instruction: Insert the address of 1st
party],      ________________________             [Instruction:      Insert   the County],
________________________ [Instruction: Insert the State] and ___________________
[Instruction: Insert name of 2nd party], residing at _________________________
[Instruction: Insert address of 2nd party], ________________________ [Instruction: Insert
the County],. ________________________ [Instruction: Insert the State]. Both the parties
may individually be referred to as “Partner”, or, collectively as “Partners”.

1. Nature of Business.

   The Partners listed above hereby agree that they shall be considered Partners in business for
   the following purpose:

   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________

   [Instruction: Insert the nature/purpose of business to be conducted.]

2. Name.

   The Partnership shall be conducted under the name of ________________________
   [Instruction: Insert the name under which the Partnership shall be conducted] and shall
   maintain offices at:

   ___________________________________________________________________________
   ___________________________________________________________________________
   [Instruction: Insert the address of the principal office where the business shall be
   conducted along with City, State, and Zip.]

3. Day-To-Day Operation.

   The Partners shall provide their full-time services and best efforts on behalf of the
   Partnership. No Partner shall receive a salary for services rendered to the Partnership. Each
   Partner shall have equal rights to manage and control the Partnership and its business.
   Should there be differences between the Partners concerning ordinary business matters, a
   decision shall be made by unanimous vote. It is understood that the Partners may elect one of
   the Partners to conduct the day-to-day business of the Partnership; however, no Partner shall
   be able to bind the Partnership by act or contract to any liability exceeding ________ ($___)
   [◊ Twenty thousand dollars ($20,000)] without the prior written consent of each Partner.




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 4. Capital Contribution.


				
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Description: This Partnership Agreement is a written document that explicitly details the relationship between the business partners and their individual obligations and contributions to the partnership. The agreement states the nature of the business, the partners' capital contributions and the management duties and restrictions of each partner. It contains many of the standard provisions that are commonly included in partnership agreements, and may be customized to address the specific needs of the partners. This document should be used when forming a partnership located in New Hampshire.
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