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Agreement Partnership Pdf

September 9, 2021 | By More

In this case where the partnership has more than two partners, the remaining partners act as agents on behalf of the former partner and immediately terminate the affairs of the partnership, unless the other partners agree that they will continue the activities of the partnership. The partner(s) have the primary right to acquire the deceased`s shares in the partnership with the partner`s heirs and/or assignees, or to terminate and liquidate the partnership activity. The partner or partners must notify in writing to the executor, the administrator, the addressee of the assignment or the legal heirs known to the deceased, at the last known address of this heir, the intention to acquire the deceased`s participation in the partnership. In agreement with all partners, the partnership may be dissolved. A management committee is elected by a majority of the partners who conduct the operations of the partnership and, by its majority decision, it is empowered to manage all the commercial relations of the partnership, with the exception of those made available exclusively to the partners. The purchase price of the deceased`s shareholding in the partnership is the capital amount of the deceased at the time of the death of the deceased, plus the deceased`s income account at the end of the previous financial year, with an increase in the profits derived from the partnership and deductions of social losses at the beginning of the financial year of death until the end of the calendar month of death. . . .

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