A written partnership contract is known as?

Assessment: JAMB UTME - Commerce - 2004 Subject: Commerce

Question 1 Report

A written partnership contract is known as?
Answer Details
A written partnership contract is known as a "deed". A deed is a legal document that is signed and delivered, often used to transfer the ownership of property or legal rights from one person to another. In the case of a partnership, a deed serves as a formal agreement that outlines the terms and conditions of the partnership, including the roles and responsibilities of each partner, the duration of the partnership, and the profit-sharing arrangements. The deed is a legally binding agreement and provides protection to all parties involved in the partnership.
Read lesson note on Legal Aspects Of Business (JAMB)
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