Partnership is the result of agreement between two or more persons. The agreement may be oral or written. The written agreement is called Partnership Deed.
It is always advisable to put the partnership agreement in writing because of the reasons given below:
1. To avoid disputes, quarrels, and misunderstanding among the partners.
2. To remind the partners about their rights, duties, and liabilities.
3. To maintain healthy atmosphere to carry on business smoothly.
