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Agreement Of Business Conduction By PartnersOn behalf of the firm, each individual partner shall act as a representative of the firm in the following areas: However, neither partner may enter the firm into debt for a sum in excess of $_______ (dollars), without first drawing up a written/signed agreement and obtaining unanimous approval by all partners. INDEMNIFICATION Each Partner shall indemnify and hold harmless the partnership and each of the other Partners from any and all expense and liability resulting from or arising out of any negligence or misconduct on his part to the extent that the amount exceeds the applicable insurance carried by the partnership. AMENDMENTS This agreement may be amended at any time and from time to time, but any amendment must be in writing and signed by each person who is then a Partner. NOTICES Any written notice to any of the Partners required or permitted under this agreement shall be deemed to have been duly given on the second day after mailing if mailed to the party to whom notice is to be given, by first class certified return receipt requested, postage prepaid, and addressed to the addressee at the address stated opposite his name below, or at the most recent address, specified by written notice, given to the sender by the addressee under this provision. Notices to the partnership shall be similarly given, and address to it at its principal place of business. GOVERNING LAW This agreement is executed and intended to be performed in the (State you reside in), and the laws of that state shall govern its interpretation and effect. SUCCESSORS This agreement shall be binding on and inure to the benefit of the respective successors, assigns, and personal representatives of the parties, except to the extent of any contrary provision in this agreement. SEVERABILITY If any term, provision, covenant, or condition of this agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the rest of the partnership agreement (see annexure marked exhibit A.) shall remain in full force and effect and shall in no way be affected, impaired, or invalidated. Dated: _________. __________________________ Signature and Title __________________________ Signature and Title __________________________ Signature and Title __________________________ Signature and Title
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