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Admission in the within-written indre were word for word repeated of a New in these prests In Witness, &c.

Partner.

Testatum. Consideration.

Admission

of G H.

Shares of the parties.

Parties mutually agree to be part

ners for a term of years.

Subject to the same term, &c. as before.

Admission of a New Partner by annexing the same to the Copartnership Deed.

This Indre made, &c. Betn A B of, &c. of the first pt C D of, &c. of the second pt E F of, &c. of the third pt and G H of, &c. of the fourth pt Whas (recite carrying on of the trade of by the old ptnrs) Whas in conson of the sum of £ - advanced and brought in and added to the sd coptnshp este and effects by the sd GH it hath been agrd by and betn the pties hereto that the sd G H shall be admitted a ptnr in the sd trade or business as hnbefe mentd Now, &c. in conson of the sum of £ so advanced and brought in by the sd G H as afd to the acct of the sd coptnshp they the sd A B, &c. do hby sevlly covt, &c. with and to the sd G H his, &c. that the sd G H shall be admitted a ptnr in the sd trade or business now carried on by them as afd from the day of the date of these prests and that in future it shall and may be lful to and for the sd A B and CD to take no more than two-eighth pts or shares each of the profits of the sd concern and that two or. eighth parts or shares shall remain paye to the sd EF according to the purport of the annexed articles and the remaining two-eighth pts or shares thof shall go and be pd to the sd G H or his ass for so long as the sd coptnshp betn the sc pties shall continue And this Indre furr Witnesseth That in conson of the special trust good opinion and confidence which the sd A B, &c. resply repose in each other they the sd A B, &c. do hby mutually covt, &c. That they the sd pties shall and will from, &c. commence and continue to be coptnrs and jt traders in in prft and loss thby for and during, &c. in case they shall so long live determinable nevss as in the hereunto annexed articles of agrt is mentd and under and subject to such and the like terms condons provisos limitations restrictions and agrts as in the sd articles of coptnshp annexed are expssd and decld of and concerning the sd coptnshp capital stock and trade and or. the matters and things therein comprised as fully and effectually to all intents and purps as if the same terms agrts matters and things were parlarly mentd expssd and repeated in and by these prests inserting the name of the sd G H therein And it is hby decld and agrd by and betn the sd pties to these prests that subject to the condons and agrts contd in the sd articles of coptnshp

the sd coptnshp este and effects shall be and remain and Admission belong to the sd A B, C D, E F and G H their respive of a New exs ads and ass In Witness, &c.

Assignment of a Moiety in a Copartnership, and Admission of the New Partner, (by Indorsement.)

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Partner.

This Indre made, &c. Betn A of, &c. of the first pt B of, &c. of the second pt and C of, &c. of the third pt Whas the sd A and B have for some time carried on Recital of the business of in coptnshp togr under and by vir- copartnertue of the within-written indre And whas the sd A ship. with the privity and consent (a) of the sd B testified by Contract his being a party to and signing and sealing these for sale of moiety. prests hath contracted with the sd C for the absolute sale to him of the one moiety or equal half pt of him the sd A of and in the goodwill property and effects (except the credits thereof) of the sd jt trade at or for the price or sum of £ And it hath been agrd that such moiety shall be assd as in manner hnaftr mentd Now this Indre Witnesseth That in pursuance of the sd Testatum. agrt and in conson of the sum of £ by the sd C to the sd A in, &c. pd the rect whereof and that the same is in full satisfaction for the moiety or equal half pt or share of him the sd A of and in the mos stock and effects belonging to the sd A and B the sd A doth hby acknge and of and from the same doth acquit rele and for ever discharge the sd C his exs, &c. he the sd A Hath bargained sold reld and assd and by these prests Doth bargain, &c. unto the sd C his exs ads and ass All that the moiety or equal half pt of him the sd A of and in the goodwill, &c. of the sd coptnshp business and the gains and prfts henceforth to arise therefrom and of and in the goods stock in trade furniture acct-books and all or. property and effects of the sd coptnshp and the right title int, &c. both at law or in equity of him the sd A of in to or out of the sd goodwill, &c. To Have and Habendum. to Hold unto the sd C his exs, &c. the sd moiety or equal, &c. and all and singr the preses hby assd or intended so to be in as ample and beneficial a manner as he the sd A might have had and enjoyed the same if these prests had not been made And this Indre furr Witnesseth That in conson of the preses he the sd B doth hby admit the sd C into the sd coptnshp as an acting ptnr therein in respect of the one moiety of him the sd A in the sd coptnshp as afd And this Indre furr Witnesseth That in conson of the preses each of them the

(a) As to the necessity of this consent, see Pref. § 7.

Admission

of C.

Covenants

between B and C.

tion.

Dissolu- sd B and C for himself, &c. covt, &c. that they the sd B and C shall and will henceforth become and be ptnrs in the business of for and during all the residue now unexpired of the sd term of yrs in the within-written indre mentd and subject to the provisions and stipulations contd in the sd indre and shall and will at all times hraftr faithfully perform and keep all and evy the covts provos agrts and stipulations contd in the sd indre so far as the same are now subsisting and capable of taking effect And that the sevl rights shares and ints of the sd pties of and in the sd coptnshp property prfts and effects shall be held and enjoyed by the sd pties resply under and by virtue of the within-written indre and of these prests or either of them and shall be subject and liable to the provisions of the sd indre as fully and effectually to all intents and purps as if the sd provisions had been incorporated with and inserted in the within-written indre In Witness, &c.

Recitals. Retirement of A.

Deed of Dissolution between a retiring and two continuing Partners, (General Precedent.)

Obs. 1. Where a partnership is constituted by deed, it must regularly be dissolved by an instrument of as high a nature: if, however, it is commenced by articles unsealed, it may be dissolved by parol, Rackstraw v. Imber; Holt N. P. C. 308. But a notice in the Gazette of a dissolution is evidence against the party signing it, that the partnership has been legitimately dissolved, Waithman v. Miles; 1 Stark. 181.

2. An agreement for a dissolution is not a dissolution, and will not have the effect of a dissolution; Emmet v. Butler; 7 Taunt. 599.

3. A deed of dissolution usually contains a declaration that the partnership is dissolved; an assignment of the retiring partner's share of the stock, credits, &c. to the remaining partner, in consideration of the repayment of the retiring partner's capital; a covenant of indemnity to the retiring partner against the debts of the old firm; and a mutual release on the partnership account : but deeds of this kind are subject to variations, according to the nature of the transactions.

This Indre made, &c. Betn A of, &c. of the first pt B of, &c. of the second pt and C of, &c. of the third pt Whas (recite copartnership, see last Precedent) (a) And whas the sd A on the now last past with the consent of the sd B and C hath retired from the sd

day of

(a) Or, if there be only two partners, say, And whas upon the treaty for the dissolution it was agrd that the sd B who intends to carry on the sd business alone should have for his own use all the share of him the sd A of and in the stock in trade credits and effects of the sd coptushp upon his taking upon himself the debts and obligations of the sd coptnshp and paying to the sd A the sum of by two instalments of £ on the day of and - on the day of the paymt thereof to be secured by the jt and sevl bond of the sd B and (surety) as his surety And whas in pursuance of the sd agrt the sd B and sd (surety) have by their bond, &c.' (see above.)

-

coptnshp and it was thereupon agrd that the sd A shd
rece and take in satisfaction of his share and int in the
sd business and in the stock mos merchandizes debts
and effects of or belonging to the same the sum of £ —
with int for the same after the rate, &c. to be computed
from the
day of
last past by the instalments at the
times and in the manner hnaftr mentd that is to say (state
times, &c.) And that the paymt of the sevl sums
should be secured by the jt and sevl bond of the sd B
and C in a sufficient penalty And that the sd A shd
give the rele and assnmt and power of atty as hnaftr
mentd And whas the sd B and C have by their certain
bond or obligation in writing bearing even date here-
with become bd in the penal sum of £ subject to a
condon thereunder-written for making void the same
on paymt to the sd A his exs ads or ass the sd sevl
sums of £ £ - and

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with int for the same

Dissolu

tion.

resply at such times and in such manner as hnbefe and therein expressed Now this Indre Witnesseth That in Testatum. pursuance of the sd agrt they the sd A, B and C with the mutual assent of the or. of them have determined Dissolution. and dissolved and by these prests do determine and dissolve the sd coptnshp so far as regards the sd A and that the same shall be considered to have ceased from the day of last past And that notice thereof shall immly be signed by all the parties hereto and inserted in the Gazette And this Indre furr Witnesseth Further That in conson of the sevl sums of, &c. secured to be testatum. pd to the sd A as hnbefe mentd he the sd A Hath bargained, &c. and by, &c. Doth, &c. unto the sd B and C All that one undivided pt or share of him the sd A of and in all and singr the vessels, &c. And of and in all and singr the leasehold messes and tents And of and in all and singr the debts and sums of money due and owing to the sd coptnshp and all or. the este effects prfts and gains whatsr of them the sd A, B and C as coptnrs as afd And all the este, &c. of him the sd A of in to or out of the sd one undivided pt or share and preses hby assd or intended so to be To Have and to Hold the sd one undivided pt or share and all and singr

or. the preses hby assigned or intended so to be unto the sd B and C their exs and ads to and for their own

use and bent And for the better enabling the sd B and Power of C their exs ads and ass to recover and rece the sd debts attorney. sums of money and preses hby assd or intended so to be he the sd A Hath made ordained constituted and appted and by, &c. Doth make, &c. the sd B and C jtly and sevlly his true and lful atties irrevocably in his or their own names as they shall think necessy or expedi

Dissolution.

Covenants from retir

ent but for the exclusive bent and at the costs and risk of the sd B and C to ask demand sue for recover and rece by all lful and equitable ways and means whatsr of and from all and evy psn and psns whom it doth concern or who ought to deliver or pay the same resply the stock in trade mos debts merchandizes and effects belonging due or owing to the sd coptnshp and on the delivery and paymt thof resply to give and exte rects acquittances releases and or. dischas for the same resply and on non-delivery and non-paymt thof resply as they shall think proper to commence and prosecute such actions suits or or. proceedings at law or in equity as are necessary for recovering or compelling the delvy and paymt thof resply And also to adjust settle compound and compromise all accts reckonings transactions and things whatsr relating to the sd coptnshp or the business or affairs thof and generally to do and perform any or. act deed matter or thing whatsr relating to the preses as fully and effectually to all intents and purps whatsr as the sd A might or could do in case these prests had not been made And whatsr the sd B and C shall lfully do or cause to be done in the preses he the sd A doth hby ing partner. covenant and promise to allow ratify and confirm And the sd A doth also hby for himself his hrs exs and ads covt, &c. with, &c. the sd B and C in manner following that is to say That he the sd A hath not at any time heretofore made done committed or exted or knowingly or willingly permitted or suffered any act deed matter or thing whatsr whby or by reason or means whereof the sd pt or share of him the sd A of and in the preses hby assd or intended so to be are is can shall or may be in any wise impeached charged affected or encumbered in any manner howsr And that he the sd A or his exs or ads shall not nor will at any time or times hraftr by himself or themselves or any agent or agents resply rece or take into his their or any of their posson the same mos debts and effects or any of them or any pt thereof nor revoke or make void the power or authty hnbefe given nor rele compound acquit or discharge any of the debts or demands due to the sd coptnshp or disavow or become nonsuit in any actions or suits that shall be brought sued or commenced for or on acct of the same witht the consent of the sd B and C for that purpe in writg first had and obtained nor do any or. act matter or thing whatsr by means whereof the sd B and C or either of them shall or may be hindered and obstructed from receiving recovering and getting in all or any of the sd stock in trade credits effects and preses whof the int or share of him the sd A is hby assd or intended so

Done no act to incumber.

Will not receive debts, &c.

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