| Should the partnership be terminated by unanimous vote, the assets and cash of the partnership shall be used to pay all creditors, with the remaining amounts to be distributed to the partners according to their proportionate share | No partner shall receive a salary for services rendered to the partnership |
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| No partner shall transfer interest in the partnership to any other party without the written consent of the remaining partner s | The partners shall provide their full-time services and best efforts on behalf of the partnership |
The partnership shall be conducted under the name of … and shall maintain offices at [STREET ADDRESS], [CITY, STATE, ZIP].
28| The remaining partner s shall pay the withdrawing or retiring partner, or to the legal representative of the deceased or disabled partner, the value of his interest in the partnership, or a the sum of his capital account, b any unpaid loans due him, c his proportionate share of accrued net profits remaining undistributed in his capital account, and d his interest in any prior agreed appreciation in the value of the partnership property over its book value | The partners listed above hereby agree that they shall be considered partners in business for the following purpose: … … 2 |
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| The profits and losses of the partnership shall be divided by the partners according to a mutually agreeable schedule and at the end of each calendar year according to the proportions listed above | Any disputes arising between the partners as a result of this Agreement shall be settled by arbitration in accordance with the rules of the American Arbitration Association and judgment upon the award rendered may be entered in any court having jurisdiction thereof |
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