What is valid agreement for partnership
Question:
Hi there,
Can someone declare that one is a partner in a business without going through proper formalities like signing documents and understanding liabilities etc?
Would you please provide what are the forms of valid agreements for a partnership to occur
This question was asked on 20 May 2009
Expert Response
Medici Capital provides a full Partnership Facilitation service. This includes assistance with the preparation of both Partnership and Management Agreements.
Technically you can enter into partnership without an agreement. However, this is very risky! We do not recommend it and it is likely to cause problems later.
The courts will assume an equal partnership exists.
We strongly recommend you seek professional financial and legal advice. Contact Medici Capital to discuss.