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Accounts 2009 Paper

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Partnership Agreement
Alon Melamed & Itai Ilouze
Gone Fishing

Part A
Business men Alon Melamed and Itai Ilouze drew up this partnership agreement on The 12th of February 2011. The partnership is in session from the 28th of February until the termination of the business.

Name and Purpose Of Business
The parties herby form and agree to a partnership under the name   “Gone Fishing”. Our intention is to create a business that sells and produces state of the art fishing and boating equipment along with the guarantee of authenticity and legitimacy . The main offices of this business will be located in Killarny number 304 Hugh street .

the capital of the Partnership shall consist of the equity of the Partnership in all of its assets, plus such additional amounts as may hereafter be contributed or transferred to capital by the Partners. Capital may be in the form of cash or assets. The Partners may withdraw their capital contributions, in whole or in part, only with consent of the Management Committee of the Partnership. Each partner shall have a separate capital account

Responsibilities, Performance and Remuneration.
Both Partners have equal rights and equal management of the business, Each partner has his one main responsibility in the business which is to oversee each business function is working to its full potential. The level of the performance expected from each partner is to be at the highest of standards. Partners have the same salary but the surplus profits or losses go according to the ratio of capital contributions.

Withdrawal And Admission of Partners
When a partner would like to leave the business there is a firm and secure course of action to do it.   Capital contributions of the partner cannot be taken out, however the partner will be bought out of his shares by the other partners. A partner that has withdrawn may not sell his interest to outsiders. He cannot go and work for another company in the same...

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