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forms of agreements between, previous to, and during partnership.-(continued.)
deed of copartnership admitting new partner into firm, &c.-(continued.)
partnership to be carried on in

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street, 89.

notes, bonds, &c. to be signed by all the partners, shall be deemed
only an account of partners giving same, 89.

partners to apply themselves faithfully to partnership, 89.

to be faithful and just to each other in buying and dealing, 89.
to render account of transactions, 89.

partners to be entitled to stock, gains, and profits, and fixtures, &c.
in proportion, 89.

A. to be entitled to six-sixteenths, 89.

B. to seven-sixteenths, 89.

C. to three-sixteenths, 89.

rent, taxes, salaries, wages, and expences necessarily incurred to come
from capital, 89.

also losses, damages, and debts, &c., 90.

except debts occasioned by trusting persons forbid by other partners
in writing, 90.

such losses to be borne in like proportion as partners are entitled to
capital, 90.

one partner obliged to go once a year to Manchester, for purposes
of trade, 90.

expence of such journey not exceeding one guinea per day to be paid
out of partnership stock, 90.

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C. to be allowed £40 for every clerk or servant he shall board and
lodge, 90.

£40 yearly to be allowed to C. for entertainment of correspondents
and customers of said partners, to be deducted monthly, 90.
C. to pay partnership for use and occupation of premises occupied
by him, 90.

partners not to take apprentices or others without consent, 90.

nor to lend money or give credit to person whom any of part-
ners shall have forbidden in writing, 90.

and if he does, then such partner to pay partnership stock
amount, 91, 92.

partners not to enter into bond, or become bail, without consent
of others in writing, 91.

nor to speculate in funds or lottery, or do any act whereby
partnership stock may be seized or taken in execution, 91.
each partner to pay his own debts, 91.

to indemnify and save harmless the others, and the capital, &c.
from their private debts, 91.

to take monthly out of partnership capital for their subsistence
£19 per cent. on amount of respective shares, 91.


overplus of gains to accumulate and go to increase capital in
portions hereafter mentioned, until capital amounts to £40,000, 91.
the overplus of gains, after satisfying such interest or monthly sums,
to be divided between partners, 91.

in manner following, one half of overplus to arise within one
year after £10,000 capital realized, 91.

the other at end of twelve months from time of taking such ac-
count, 92.

books to be kept, and entries of all transactions relating to part-
nership to be made therein, 92.

partners to have access to books during continuance of partnership, 92.

forms of agreement between, previous to, and during partnership.—(continued.)
deed of copartnership admitting new partner into firm, &c.—(continued.)
on 1st of August succeeding these presents, and on every succeeding
1st of August, general account and rest in writing to be made and
taken of goods, &c. sold, and all the stock, 92.

general account to be entered in three books, and signed by partners
within three months after taking thereof, 92.

six months notice to be given to or by C. of wish to withdraw from
partnership, 93.

on such notice, account to be taken of stock, &c., and share to be
paid C. by bonds of other partners, by four equal payments, at
three, six, nine, and twelve months, 93.

deeds, &c. to be executed as shall be deemed advisable, as well for
investing share of C. in other partners as for indemnifying hin
from debts, &c. of partnership, 93.

in case of C.'s death before end of partnership, &c., other partners
and executors, &c. of deceased to make up account of partnership
stock, 93.

surviving partners to take share of deceased partner, and secure pay-
ment thereof, with interest, 93.

partners to make up an account of partnership concern at the end of
six years, 93.

unless new partnership agreed on, stock to be taken by A. and B.,
and they to secure to C. his share and interest, 94.

after determination of partnership, and if new one agreed on, A. and
B. to continue partners, 94.

for residue of fourteen years, as agreed on by them in former deed,
on same terms as therein described, 94.

except as to increase of capital and profits, 94.

profits to be divided, allowing only interest of £9 per cent. on ca-
pital monthly, 94.

in case of death of A. or B. before expiration or dissolution of part-
nership, executors, &c. of such deceased partner shall be entitled
to share, 94.

surviving partners to execute to representative's bond, with two
sureties, to be approved of by representatives, in penalty sufficient
to cover deceased's share, with interest, 94.

one-third part on expiration of six months, 95.
one-third part in twelve months, 95.

one-third part in eighteen months, 95.

surviving partners to enter into bond to representatives of deceased
for outstanding debts due to partnership, and for indemnifying
representatives, 95.

representatives of deceased, to execute such deeds, &c. as surviving
partners shall require for transferring deceased's share to surviving
partners, 95.

in case of death of any of partners, survivors shall within thirty days
give representatives of deceased partner just account of partnership
stock, &c., 95.

representatives of deceased, or persons by them appointed, to have
access to partnership books and to inspect same, 95.

in case of death of A. and B. surviving partners to be entitled to
capital, &c. of such partnership concern, A. and B. two-thirds,
C. one-third, 96.

surviving partner to advance respective shares, 96.


forms of agreements between, previous to, and during partnership.-(continued.)
deed of copartnership admitting new partner into firm, &c.-(continued.)
partners not to indorse or accept bills, &c. or gamble in funds or
lottery, 96.

and if so, other partners may dissolve partnership, 96.

capital stock of such partner to go to, and belong to others, 96.
joint stock to be liable for any additional sum to be advanced or
brought into partnership by any of partners, 97.

in case joint stock insufficient to pay such additional advance, then
separate property of other partners liable, 97.

differences to be referred to arbitration, 97.

award to be conclusive and binding, 98.

deed of copartnersip where real property is brought into concern, with
numerous stipulations, 98.

recital of agreement to become partners, 98.

leasehold property of A. to be assigned to A. and B., 98.

agreement to become partners, 99.

capital, 99.

premises, &c. of A., to be brought in by A., as part of his capital,
and to be valued, 99.

leasehold premises, &c. to be for and in part of A's share of capital,

capital to be employed in business only, 99.

shares of partners, 99.

form and place of business, 99.

rent and expences of business, 100.

to insure premises, 100.

apprentices and servants, 100.

partners to be diligent, 100.

not to trade separately, 100.

indemnity against private debts, 101.

monthly drawings for current expences, 101.

not to trust persons forewarned against, 101.

nor issue bills, &c., except on account of business, 102.'

books to be kept, 102.

annual rents, 102.

partners advancing more than proportion of capital to be allowed
interest, 103.

on breach of articles by either partner, the other may by notice
dissolve partnership, 103.

general account on death of either partner, 103.

share of deceased partner to be secured to personal representatives,


bad debts to be divided as received, 104.

debts afterwards proving bad to be allowed, &c. 105.

final rest on expiration or dissolution of copartnership, 105.
premises to belong to A., at expiration of copartnership, 106.
arbitration clause, 106.

penalty for nonperformance, 107.

concise deed of copartnership between two persons as general traders,


recital of agreement for partnership, 107.
witness that parties become partners, 107.
how and where trade to be carried on, 107.



forms of agreements between, previous to, and during partnership.—(continued.}
concise deed of copartnership between two persons, &c.—(continued.)
capital to be employed solely in trade, 108.

if either party lend to trade, same shall be chargeable therewith,


profit and loss to be borne and received equally, 108.

clerk to be taken by mutual consent, 108.

premiums to be added to joint stock, 108.

all contracts, &c. to be made in joint name of parties, 108.

entries to be made in proper books of all copartnership transactions,

books of accounts, &c. to be kept at counting-house, and be open
for inspection of parties, 108.

half-yearly rests to be made and signed by parties, 108.
accounts when signed to be conclusive, 108.

surplus to be divided, 108.

parties to be wholly engaged in partnership business, 109.

to be faithful to each other, 109.

neither party to apply partnership money to his own use, 109.
except allowance for subsistence, 109.

neither party to suffer estate to be charged with private debts, 109.
nor buy or sell beyond certain amount, 109.

if they do without consent, same to be on his own account, 109.
nor to accept bills but in regular course of trade, 109.

nor to lend or give credit contrary to assent of other, 109.

nor compound nor release debts, 109.

nor become bail, 109.

nor assign his share without consent, 109.

if they do, partnership voidable, 109.

if either party die other to take stock, 110.
amount to be paid by three instalments, 110.
and secured by bonds, 110.

on bonds being given, representatives of deceased to assign to survivor,

at expiration of term one of parties to have refusal of stock, &c. at
valuation, 110.

if both decline, stock to be sold, 111.

on determination of partnership, notice to be given to customers,

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credit afterwards given, to be at risk of person crediting, 111.
further assurance, 111.

reference of disputes, 111.

nominees may appoint umpire, 111.

in default attorney or solicitor-general to appoint, 11.

award to be final, 111.

parties to give bond to abide award, 111.

to be examined on oath, 111.

request of reference to be bar to action, 112.

if no award chancery or exchequer to possess power to arbitrate,


concise agreement for joint trade, 112.

indenture of copartnership between four persons for home and foreign
trade, 113.

as to general copartnership, 113.
as to joint stock, 113.

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forms of agreements between, previous to, and during partnership.—(continued.)
indenture of copartnership between four persons, &c.-(continued.)

how to be applied, 114.

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duration of partnership, 114.

gains to be equally divided, 114.

in parts beyond seas, 114.

and expences and losses equally borne, 114.

all parties to use industry to get in debts, 114.

to answer respectively for credit improvidently given, 115.
to take each other's advice, 115.

loss by servants, &c., 115.

not to charge copartnership but for just debts, 115.

saving sums for private expences, 115.

wages for servants, 116.

G. H. not to trust persons beyond sea without consent of others,

and to keep just accounts, 116.

and send home accounts monthly, 116.

partners to have free access to country house of G. H., 117.
and that he will make due remittances, 117.

as to money borrowed, 117.

as to E. F.'s receipts, books, journals, &c. in England, 117.

and give free access to his counting-house, &c., 117,

C. D. to keep true accounts, 118.

and give free access to his counting-house, 118.

as to family expences, 118.

as to money advanced over and above share of stock respectively,

not to enter into any bond, become bail, &c., 119.

nor to lend goods, except where majority agree, 119.

adjustment of differences, 119.

A. B. to aid and assist in procuring money, 119.

and make allowance out of his share, 119.

proviso in case of death, 119.

in case any one dies, survivor shall indemnify representatives against
partnership debts, 120.

another form applicable to any trade or business, with usual cove-
nants, 122.

years, 122.

where business to be carried on, 122.

stock in trade, &c. when valued, to be taken as part of stock, 122.
trade, &c. to be carried on and taken in joint names, 122.

profits to be divided, 122.

all losses, &c. to be borne by each party, 123.

wages, rent, &c. to be paid equally by partners, 123.

principal clerk to be the general receiver, 123.

surplus cash to be paid to bankers, 123.

to exert themselves, 123.

neither to be absent without leave, 123.

to be faithful to each other, 123.

parties to draw out quarterly, 123.


neither to take further sum without consent of other, 123.

such further sum to bear interest at £5 per cent, and payable at 21

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