The limited partnership agreement is one where one company or business organization agrees to infuse capital into another with limited liability restricted only to the amount of money invested in the latter. It is a very common kind of partnership agreement and care should be taken to incorporate all the necessary terms and conditions in the limited partnership agreement. The document is mandated by the laws of the land and not by individual contracts of the two partners. This makes it different from a general partnership agreement.
It also ensures that the corporation is not taxed by the authorities. There are thus many advantages of a limited partnership and details like payment of funds, sharing of profits, duration of agreement, renewal and termination clauses and so on must be mentioned in the contract. It should be as clear as possible to avoid confusion, and inaccuracies and mistakes must be avoided at all cost.
Agreement of Limited Partnership
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