VIEWS: 587 PAGES: 6 CATEGORY: Creating a Partnership Agreement POSTED ON: 5/17/2011
This agreement establishes a limited partnership, a form of partnership established under state law, between one general partner and two limited partners. In limited partnerships, general partners have unlimited liability and are responsible for managing the partnership's business. Limited partners have the right to share in the profits of the limited partnership and they have limited liability, to the extent of their capital contribution to the partnership, but they do not take part in managing the partnership. This document sets forth the terms and conditions of the limited partnership and can be customized to fit the needs of the drafting parties.
"Agreement to Form Limited Partnership"