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Certificate of Partnership

Certificate of Partnership

What is the certificate of partnership

When there is a trust and this trust applies to all the partners who as per the trust are considered beneficiaries, the certificate of partnership is given. In this agreement where there is a partnership, all of the partners are considered as beneficiaries of the trust and the trust is held and executed by someone else who acts as a trustee. The trustee acts on directions which are given to him or her under the partnership.

The trustee acts on all the directions and executes whatever needs to be done so that the partnership benefits. This is done till the trustee is informed in writing that the certificate of partnership has been revoked. Only it is when the instrument of the certification of partnership has been revoked that this instrument continues in perpetuity.

The other reason why the instrument in question can be revoked is that there are similar instruments or an instrument which has similar import and that instrument supersedes this certificate of partnership agreement and that the new superseded instrument has similar import as this one.

This certificate of partnership document is both legal as well as binding and it should state the city as well as the state where it has been executed and it needs to be dated and it needs to be signed by all the partners in order to be considered as legal and binding and to be enforced.

Once it is enforced it is a legal document which cannot be revoked except due to the clauses which are mentioned above.

Certificate of Partnership

 

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