I, __________________, (“Buyer”) a partner, have made an Offer to Purchase another partnership interest owned by _________________ (“Seller”). Buyer offers to buy ____ (Percentage, units, or other suitable measurement) of Seller’s partnership interest (“Partnership Interest”) in the partnership (the “Partnership”) carrying on the business of Partnership from the premises of Partnership under the name Partnership Name, upon the following terms and conditions:
I. The purchase price for the Partnership Interest will be Purchase Price of Partnership Interest, Rs.________, which will be payable by cash or by certified check on the Closing Date (as defined below), or by an installment payout plan as indicated in Exhibit 1. The Buyer will also assume all liabilities of the Partnership on the Closing Date.
2. Time shall be of the essence of this Offer. The closing of this transaction shall take place at ______ p.m. on _______________ (Date) or such earlier or later date as may be mutually acceptable to the parties hereto (the “Closing Date” or “Closing”)….
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