Draft a Deed of Dissolution of Partnership Among Parties.

THIS DEED OF DISSOLUTION OF PARTNERSHIP is made today the 7th day of March 2019 between

  • Rana Rehan son of Ijaz by caste Rajpoot resident of Chowk Kumharan, Multan
  • Rana Kamran son of Riaz by caste Rajpoot resident of
    Chowk Kumharan, Multan

Each of above described parties will be called partner in this deed.

This deed witnesses in following words: Above described partners have mutually agreed to dissolve partnership on following conditions:

1. Name of partnership firm is Rana & Co Computers and its head office is situated at Khan Plaza, Multan.

2. This above said partnership firm was for a period of four years and this period started from 7th of March, 2019.

3. Total capital of the partnership business was Rupees 5000.000/- (fifty Lakh rupees only) and this total capital was contributed by above described partners in equal shares.

4. Business of above mentioned firm has been carried at its above mentioned head office since establishment of their firm.

5. Profits of above said firm were divided between above described partners in equal shares. Similarly losses of firm were also borne out by partners in equal shares.

6. To carry on further business of above said partnership firm has become almost impossible for above described partners due to some certain differences between them. Under these circumstances, they have been left with no alternative except to dissolve above mentioned partnership firm through mutual consent.

7. Following conditions are being decided for dissolution of above said partnership firm:

a. Above mentioned partnership firm stands dissolved immediately with execution of this deed from 7th March, 2019.

b. Banker of above said partnership firm is M/s. Muslim Commercial Bank, Multan. This banker has been informed about dissolution of firm.

c. Above described partners have already received all cash, which is Rupees 5000000 (five million rupees) from account of above mentioned firm by leaving joint acknowledgement receipt in hands of manager of above said bank.

d. Above described partners have also sold all e belongings of above said firm and have received Rupees 1000000 (ten Lakh rupees) through this sale. This amount of ten lakh rupees shall be divided between above described partners in equal shares.

e. Both of above described partner shall sign, execute and perform all those future documents, acts and things, which shall be necessary and essential for dissolution of above mentioned firm.

f. Provisions of Partnership Act shall be strictly followed for dissolution of above said partnership firm.

In presence of following witnesses, described partners have signed this deed of dissolution of above mentioned partnership on 7th March, 2019.

Rana Rehan (Partner) Rana Kamran (Partner)
Signature Signature
Witness No. 1Witness No. 2
Rana Kamran Son of Rana Imran Rana Sumair Son of Rana Numan
Resident of Multan Resident of Multan
C.N.I.C. No. ——————————– C.N.I.C. No. ——————————–
Signature of Witness No. 1 Signature of Witness No. 2
Summary
Dissolution of Partnership
Article Name
Dissolution of Partnership
Description
This is the Pattern how to write/draft a deed of dissolution of partnership among parties in a legal way. Such draft method can help anyone to follow the rules and procedure step by step to create it.
Author
Publisher Name
Educativz.com
Publisher Logo

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