Sample Partnership Agreement−−General Partnership
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JOE AND BOB'S GREAT ADVENTURE
Upon valuable consideration and mutual promises, the persons named below as "Partners" hereby covenant
and agree to be bound to the following as their GENERAL PARTNERSHIP AGREEMENT (this
"Agreement") dated this ___ day of _________________, 2004 for JOE AND BOB'S GREAT
ADVENTURE, a general partnership governed by the laws of the State of California (hereinafter known as
ARTICLE 1. DEFINITIONS
Section 1.01. The below terms are to have the following meaning when used in this agreement:
"Agreement" shall mean this General Partnership Agreement, as amended from time to time.
"Capital Account" shall mean the account established for each Partner on the books of the
Partnership, reflecting such Partner's capital contribution, plus such Partner's share of Partnership
profits, less such Partner's share of Partnership losses, less any distributions by the Partnership to such
"Partners" shall initially refer to Joe and Bob . This list of persons who are Partners of this
Partnership may, in the future, be amended in accordance with the provisions of this Agreement.
"Partnership interest" shall mean all of a Partner's rights possessed or accruing to a Partner under
this Agreement including (but not limited to) his or her capital account, rights in the profits of the
Partnership, and voting rights but not including any rights said Partner may possess as a lender to the
Partnership under any loan agreement entered into between the Partner and the Partnership.
"Vote of the Partners" shall mean one based upon each partner having one vote with each vote
having equal weight. Unless stated elsewhere in the agreement, a Majority Vote of the Partners is
required for passage of any matter before the partners for consideration.
"Majority Vote of the Partners" shall mean a block of votes of the partners collectively