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Sale Of Partnership Interest

1. Introduction. Agreement made [date] between [name], residing at [address] (Seller), and [name], residing at [address] (Purchaser).

2. Sale of Interest. Seller, by this Instrument, sells and transfers to Purchaser, and Purchaser purchases, all of Seller's partnership interest in [company] (Partnership Interest).

3. Sales Price. The consideration for the sale of Partnership Interest is ........ dollars ($........), receipt of which is acknowledged by Seller.

4. Purchaser Bound by Partnership Agreement. Purchaser agrees to be bound by the Partnership Agreement made [date], organising [company], and executed by Seller, [name] and [names] as fully as if Purchaser were a party to the agreement in the place of Seller.

5. Consent of Remaining Partner. The remaining Partners of [company], [names], consent to the sale of Partnership Interest to Purchaser, and have so indicated by executing the consents annexed to this Agreement [omitted].

6. Release of Partners and Partnership by Seller. Seller releases the remaining Partners and [company] from any demands, claims, or causes of action that Seller may have against them. Seller represents that Seller has done nothing that would affect the remaining Partners and [company] that is not contained in...

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