Partnership Deed Format — Free Draft Under the Partnership Act, 1932
Partnerships fail on the terms nobody wrote down — what happens when one partner wants out, who can bind the firm, and how the accounts are settled. This format covers those points, which matter far more than the ones people usually argue about at the start.
AdvoMitra is a legal technology platform and is not a law firm. These tools and drafts are provided for general information. They are not legal advice, and no template fits every situation — have an advocate review anything you intend to rely on.
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The draft
Fill the fields and the draft updates as you type. The document itself is editable, so you can adjust any clause before copying, downloading or printing it. Read the notes underneath first — they cover the points these documents are usually challenged on.
Fill the fields above and the draft updates as you type. Anything still showing underscores can be typed straight into the document below — it is fully editable before you copy, download or print.
Before you use this
Registration is optional but worth doing
An unregistered firm cannot sue to enforce a contract, and a partner of an unregistered firm cannot sue the firm or other partners. Registration under Section 58 removes that disability, and it can be done after formation.
Partnership at will is easy to dissolve
Where no duration is fixed, any partner can dissolve the firm by notice. If you want stability, fix a term or set out a retirement mechanism as in clause 10 above.
Consider an LLP instead
In a partnership every partner is jointly and severally liable for the firm’s debts, without limit. A limited liability partnership caps that exposure and may be the better structure where the business carries real risk.
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