DISSOLUTION OF rate of £- per cent. per annum computed from the date of these PARTNERSHIP. Bond by remaining partners to retiring partner. Witnessing part. Parties dis solve partnership as to retiring partner, and remain partners. Second witnessing part. Retiring presents, and that the said C. D. and E. F. shall give and execute to the said A. B. their joint and several bond for securing the payment of the said sum of £ by such instalments and with such interest as aforesaid, and also for indemnifying him against the debts and liabilities of the said partnership: AND WHEREAS in part pursuance of the said agreement the said C. D. and E. F. have given and executed to the said A. B. their joint and several bond (b), bearing even date with these presents, in the penal sum of £ subject to a condition thereunder written. for making the same void, upon payment by the said C. D. and E. F., or one of them, to the said A. B., of the sum of £- by such instalments, and with such interest as aforesaid, and upon the said C. D. and E. F. indemnifying the said A. B., and his estate and effects, from and against the debts and liabilities of the said partnership and all claims and demands in respect thereof: NOW THIS INDENTURE WITNESSETH, that in further pursuance of the said agreement in this behalf the said A. B., C. D., and E. F. do hereby dissolve the said partnership hitherto existing between them so far as regards the others agree to said A. B., and the said C. D. and E. F. do hereby mutually covenant that they the said C. D. and E. F., will henceforth be and remain partners in the said business in equal shares for the residue of the said term of — years upon and subject to the conditions and provisions contained in the said indenture dated the day of or as near thereto as the circumstances will permit: AND THIS INDENTURE ALSO WITNESSETH, that in further pursuance of the said agreement in this behalf, partner assigns and in consideration of the premises, the said A. B. doth hereby his share to assign and release unto the said C. D. and E. F., ALL the share and interest of him the said A. B. in the said business and the goodwill thereof and the stock-in-trade, moneys, credits, and effects belonging thereto, To HOLD the same unto the said C. D. and E. F., absolutely in equal shares: AND THE SAID A. B., so far as regards his share hereby assigned or expressed so to be, doth hereby appoint the said C. D. and E. F., and each of them, to be the true and lawful attorneys and attorney of him other partners. Power of attorney. (b) This bond will require a 10s. stamp only. sect. 72, sub-sect. 4. See 33 & 34 Vict. c. 97, PARTNERSHIP. the said A. B. to ask, demand, sue for, recover, and receive of DISSOLUTION OF and from all persons liable to pay or deliver the same, all the debts, sums of money, and effects due and owing and belonging to the said partnership hereby dissolved, or expressed so to be, and on payment or delivery thereof to give and execute receipts, releases, and discharges for the same respectively, and on nonpayment or non-delivery thereof, or any part thereof, to institute any actions or other proceedings whatsoever for recovering and compelling payment thereof, and for the purposes aforesaid, or any of them, to use the name of the said A. B., and to do and perform all acts and things in relation to the premises as fully and effectually as he the said A. B. might or could have done the same in his own proper person if these presents had not been executed: AND THE SAID A. B. doth hereby covenant with the said C. D. and E. F., that he the said A. B. will not during his life carry on the business of in the town of or within miles therefrom: AND THIS INDENTURE LASTLY WITNESSETH, that in consideration of the premises, the said A. B. doth hereby release the said C. D. and E. F. and each of them, and the said C. D. and E. F. do hereby release the said A. B., of and from all covenants and provisions contained in the said indenture of the day of (Articles of Partnership), and all actions, claims, and demands in relation to the late partnership. IN WITNESS, &c. No. X. AGREEMENT for DISSOLUTION of PARTNERSHIP (a). THIS AGREEMENT, made the day of 18-, " AGREEMENT FOR DISSOLU TION. BETWEEN A. B., of, &c. (retiring partner), of the one part, and Parties. C. D, of, &c., and E. F., of, &c. (continuing partners), of the (a) It is supposed in this case that the partnership property consists wholly of chattels and book debts, and that nothing is to be paid for the goodwill. AGREEMENT other part (Recite partnership, and that account has been settled FOR DISSOLU TION. Agreement. One partner to retire, and and retiring partner's share ascertained, as in last Precedent, omitting all reference to the goodwill): NOW IT IS HEREBY AGREED between the parties hereto as follows:— 1. THE said A. B. shall, as from the date of these presents, others to carry retire from the said business, and the said C. D. and E. F. shall on business. Continuing partners to pay to the retiring partner by be secured by bond. henceforth carry on the same in partnership in equal shares without the said A. B. 2. THE said C. D. and E. F. shall pay to the said A. B. the sum of £ by four equal half-yearly instalments at the end of six, twelve, eighteen, and twenty-four calendar months respectively, instalments to computed from the date of these presents, with interest on the same sum, or the instalments thereof for the time being remaining unpaid, after the rate of £5 per cent. per annum computed from the date of these presents, and shall give and execute to him their joint and several bond for securing the payment of the said sum of £ by such instalments and with such interest as aforesaid, and also for indemnifying him against the debts and liabilities of the said partnership: And the said A. B. shall accept the said sum of £ to be secured as aforesaid in full satisfaction of all his share and interest in the stock-in-trade, credits, and effects of the said partnership. 3. INASMUCH (6) as in estimating the sum to be paid as aforesaid nothing was added in respect of the goodwill of the business, the said A. B. shall be at liberty to carry on the like or any other business wherever he may think fit. Retiring partner may carry on same business if he thinks fit. A proper deed 4. BESIDES the said bond a proper deed shall be executed to be executed. between the parties hereto for the purpose of carrying into effect this agreement if and so far as a deed is necessary for that purpose. AS WITNESS, &c. (b) This will be inserted, if so agreed. No. XI. DEED to carry into effect the above AGREEMENT (a). THIS INDENTURE, made the day of DEED OF DISSOLUTION. Parties. ment for trade has been debts have day of, BETWEEN A. B., of, &c. (retiring partner), of the one part, and C. D. and E. F., of, &c. (continuing partners), of the other part (Recite partnership, and that an account has been settled and share ascertained as in last Precedent): AND WHEREAS by an agreement Recite agreein writing, dated the last, it was agreed that retirement. (Recite operative part of last Precedent fully): AND WHEREAS in Bond. part pursuance of the said agreement the said C. D. and E. F. have, &c. (recite bond, suprà, p. 740): AND WHEREAS all the That stock-instock-in-trade and effects of the said late partnership consisting of delivered over to continuing personal chattels have been delivered by the said A. B. to the partners. said C. D. and E. F., and they have taken exclusive possession thereof: AND WHEREAS some of the book debts owing to the That book said late partnership have been received by the said C. D. been carried to and E. F., and the remainder have been carried to the account their account. of the said C. D. and E. F. in the partnership books with the consent of the said A. B.: NOW THIS INDENTURE WIT- Witnessing NESSETH, that in consideration of the premises, IT IS HEREBY part. DECLARED that the said partnership between the said A. B., dissolution. C. D., and E. F. has been dissolved so far as regards the said A. B. as from the last: AND THIS Mutual INDENTURE ALSO WITNESSETH, that in consideration of the premises, the said A. B. hereby releases the said C. D. and E. F., and the said C. D. and E. F. hereby release the said A. B., from all the covenants and provisions contained in the said indenture of the (Articles of Partnership), and all actions, claims, and demands for or on account of the same AND the said A. B. hereby covenants with the said C. D. and E. F., that he the said A. B. will at the request and cost of the said C. D. and E. F., do and execute all such further acts, deeds, and things for effectually vesting in them all the property and assets of the said late partnership, and enabling them to receive the same as by them shall be reasonably required. IN WITNESS, &c. day of day of (a) It is considered that this deed will require a common deed stamp only. Declaration of releases. Covenant by partner for retiring further assurance. CONVEYANCE OF SHARE IN Parties. Recitals. Conveyance and assignment of free hold and leasehold property to deceased partner and surviving partner as tenants in common in equal shares. No. XII. CONVEYANCE and ASSIGNMENT by the DEVISEE and 18-, THIS INDENTURE, made the day of BETWEEN A. B., of, &c. (devisee and executrix of deceased partner), of the one part, and C. D., of, &c. (surviving partner), of the other part: WHEREAS by an indenture dated, &c., and made, &c., the freehold messuages, lands, and hereditaments comprised in the first part of the schedule hereunder written, were conveyed as to one undivided moiety thereof to the use of the said X. B. (the deceased partner), his heirs and assigns, and as to the other undivided moiety thereof, to the use of the said C. D., his heirs and assigns: AND by the same indenture the leasehold messuages, lands, and hereditaments comprised in the second part of the said schedule were assigned unto the said X. B. and C. D., their executors, administrators and assigns, for the residue then unexpired of the several terms of years for which the said premises were respectively holden, subject to the rents and covenants affecting the same respectively: AND WHEREAS by &c. (Recite a mortgage by X. B. and C. D. of the said freehold That deceased and leasehold premises for £10,000): AND WHEREAS the said X. B. and C. D. carried on the business of common brewers and maltsters at —, in partnership, and were entitled to the property and assets of the said partnership in equal shares, subject to the debts and liabilities thereof: AND WHEREAS the messuages, lands and hereditaments comprised in the schedule hereunder written with other freehold and leasehold messuages, lands, and hereditaments, were part of the property and assets Mortgage. partner and surviving partner carried on business as brewers. That said freeholds and (a) This is one of five deeds for conveying the share of the deceased partner in the freehold and leasehold property of the partnership. The remaining assets (except moveable chattels passing by delivery, and book debts) are transferred by separate deeds. The whole arrangement is recited in the next Precedent. |