Affidavit of Company Partnership Format
I. Introduction
This Affidavit of Company Partnership ("Affidavit") is made and entered into by and between the undersigned parties to formally establish the existence of a partnership agreement between them and outline the partnership's terms, roles, and responsibilities.
II. Parties Involved
A. Partner 1
Name: Lawrence Orn
Address: Miami, FL 33103
Contact Information: 222 555 7777
B. Partner 2
Name: Rocky Orn
Address: Houston, TX 77001
Contact Information: 222 555 7777
III. Nature of Partnership
The purpose of this partnership is to [reason for partnership]. The partners agree to collaborate on various business activities pertaining to the objectives set forth.
IV. Partnership Details
A. Commencement Date
The partnership shall commence on the 12th day of December, 2075, and shall continue until it is dissolved by mutual consent or by legal means.
B. Duration
The partnership is intended to last for a period of 10 years, subject to review and extension upon mutual agreement by both parties.
V. Financial Contributions
A. Initial Contributions
Partner 1 shall contribute: $250,000.00
Partner 2 shall contribute: $450,000.00
B. Profit and Loss Sharing
Profits and losses shall be distributed among the partners in the following percentages:
Partner 1: 35%
Partner 2: 65%
VI. Decision-Making Process
All decisions regarding the business operations and future direction of the partnership shall be made jointly by both partners. In case of disagreements, the partners shall resolve these matters through mediation or arbitration.
VII. Termination of Partnership
The partnership may be terminated under the following conditions:
Mutual agreement of both partners.
Death or incapacity of any partner.
Bankruptcy filed by any partner.
Major breach of the terms outlined in this Affidavit.
VIII. Governing Law
This Affidavit shall be governed by and construed in accordance with the laws of the State of _____________________.
IX. Signatures
This Affidavit has been executed by the undersigned partners as of the date first above written.
Lawrence Orn
Rocky Orn
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