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Civil law. Part II. Contents of a simple partnership agreement (the most important)

Lecture notes, cheat sheets

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93. CONTENT OF A PARTNERSHIP AGREEMENT

Responsibilities of the Contracting Parties: contribute to the common cause; work together to achieve a common goal; maintain common property in good condition; keep accounting of common property, if it is entrusted to him by his comrades; bear the costs and losses incurred as a result of joint activities in proportion to the value of his contribution to the common cause.

Participant rights: use the common property of comrades; participate in the management of common affairs; get acquainted with all the documentation for the conduct of cases; act on behalf of all partners in the conduct of common affairs, unless the agreement establishes that the conduct of business is carried out by individual participants or jointly by all participants in the agreement; make transactions with third parties on behalf of all partners in the presence of a power of attorney issued to him by the other partners; on profits received as a result of joint activities, distributed in proportion to the value of the contributions of comrades to the common cause.

Contribution of a comrade everything that he contributes to the common cause is recognized, including money, other property, professional and other knowledge, skills and abilities, as well as business reputation and business ties. Partners' contributions are subject to monetary value by mutual agreement between the partners and are assumed equal at cost, unless otherwise follows from the contract or actual circumstances.

Conducting common affairs of comrades can be carried out by each of them. The agreement may also provide that the conduct of common affairs is entrusted to one or more partners. In these cases, the authority to conduct common affairs is certified by a special power of attorney signed by all other partners, or by the agreement itself.

In relations with third parties, the partners may not refer to restrictions on the rights of the partner who made the transaction to conduct the common affairs of the partners, unless they prove that at the time of the conclusion of the transaction the third person knew or should have known about the existence of such restrictions.

A partner who has made transactions on behalf of all partners in respect of which his right to manage the common affairs of partners has been limited, or who has concluded transactions in the interests of all partners on his own behalf, may demand reimbursement of expenses incurred by him at his own expense, if there were sufficient grounds to believe that these deals were necessary in the interests of all comrades. A partner who has suffered losses as a result of such transactions has the right to demand their compensation.

The creditor of the party to the agreement has the right to present a claim for the allocation of his share in the common property.

Responsibilities of comrades:

a) if the contract is not related to the implementation of entrepreneurial activities by its participants, each partner is liable for general contractual obligations with all his property in proportion to the value of his contribution to the common cause. For general obligations arising not from the contract, the partners are jointly and severally liable;

b) if the contract is related to the implementation of entrepreneurial activities by its participants, the partners are jointly and severally liable for all common obligations, regardless of the grounds for their occurrence.

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