This Agreement made at …………… on this……… day of ……….., 2000, between A son of …………… resident of ……………………. of the FIRST PART, B son of ……………… resident of ……………… of the SECOND PART and C son of ……………….. resident of …………….. of the THIRD PART.
Whereas the parties hereto are carrying on the business of ……………….. in partnership under the name and style of M/s. …………………………….. at ………………………………….. upon the terms and conditions mentioned in the Deed of Partnership dated ……………….
And Whereas the parties have agreed to admit the minors D and E to the benefits of the partnership.
NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:
1. Shri D son of ……………………………………….. minor (Date of birth), resident of ……………………………. shall be admitted to the benefits of partnership between A, 8, and 0 in terms of Deed of Partnership dated ………… from the date of these presents. 2. The net profits of the partnership shall be arrived at after providing for payment of remuneration to the working partners and interest to the partners as provided shall be divided among the partners in the following shares and proportion:
i A 30 paise in a rupee in the net profits 40 paise in a rupee in the net losses.
ii B 30 paise in a rupee in the net profit 40 paise in a rupee in the net losses. iii C 30 paise in a rupee in the net profit 20 paise in a rupee in the net losses. iv D 10 paise in a rupee in the net profits Minor’s share….
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