Contract law. Simple partnership agreement (joint activity agreement) (most important)

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Contract law. Simple partnership agreement (joint activity agreement) (most important)

Lecture notes, cheat sheets

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66. AGREEMENT OF SIMPLE PARTNERSHIPS (AGREEMENT OF JOINT ACTIVITIES)

On simple partnership agreement (on joint activities) two or more persons (partners) undertake to pool their contributions and act together without forming a legal entity to make a profit or achieve another goal that does not contradict the law.

A simple partnership agreement is:

1) consensual;

2) paid - the parties mutually undertake to make contributions to the common cause;

3) both bilateral and multilateral - the presence of a common goal for all comrades allows an unlimited number of persons to participate in the agreement;

4) mutual.

subject of a contract

▪ joint activities aimed at achieving a common goal for all participants.

Essential terms of a simple partnership agreement:

1) on the connection of deposits;

2) about joint actions of comrades;

3) about the common goal for the achievement of which these actions are carried out.

Any subjects of civil law can be participants in a simple partnership agreement.

The procedure for concluding a simple partnership agreement is subject to the general rules on concluding agreements. The procedure for concluding a simple partnership agreement with the participation of three or more persons is specific. In this case, the offer must be communicated to each individual participant and accepted by him.

The form of a simple partnership agreement must comply with the general requirements of the legislation on the form of transactions. In some cases, the legislator establishes a requirement to register a simple partnership as a contractual association of persons.

Each partner has the right:

1) to obtain results from the common cause;

2) to a share in common property;

3) manage the general affairs of the partnership;

4) to receive information about the state of common affairs and common property of partners;

5) refuse to participate in an open-ended agreement or terminate the fixed-term agreement of a simple partnership in relation to himself and other participants.

Partners are required to:

1) to contribute to the common property of partners;

2) participate in the costs of maintaining the common property;

3) incur losses from the activities of a simple partnership;

4) be liable for common debts and obligations to third parties with all their property;

5) conduct business in the common interest in good faith and reasonably;

6) provide other parties to the agreement with complete and reliable information about the state of common affairs and common property;

7) not to disclose confidential information about the activities of a simple partnership to third parties;

8) be liable to partners for damage caused to the common property and activities of the partners.

Author: Rezepova V.E.

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