COPART

NERSHIP.

Renewal

of expiring

assurances.

be carried on in copartnership, any thing therein. contained or implied to the contrary thereof in any wise notwithstanding, save only and except that, &c. (1). AND ALSO, that they the said Copartnership. parties, and each of them, shall and will, at any Covenant to time, and from time to time hereafter, at the execute further request in writing of the other of them, make, do, and execute, at their joint expense, all such further or other acts, deeds, covenants, provisos, declarations, and agreements, as by counsel in the law shall be deemed necessary or expedient for carrying these presents, and the agreement hereby entered into, into complete effect, agreeably to the true intent and meaning hereof, and of the within-written indenture. IN WITNESS, &c.

(1) If the terms of the copartnership are proposed to differ in any respect from those agreed upon in the former articles, add them here by way of exception, as,

"Save only and except that," &c.

And add such new provisions as may accord with the intentions of the parties-which will probably be found by reference to the margins of No. III.; see also INDEX, voce Co

PARTNERSHIP.

COPART

NERSHIP.

Deed of Dissolution.

No. XIII.

Deed of Final Dissolution of a Copartnership be-
tween two Persons where one of the Parties con-
tinues to carry on the Trade.

Variations where the Dissolution is by Indorsement (1).
Also where there are several Copartners.

Where the Dissolution is as to one Party only.

Other Variations as in the margin below.

Parties.

Recital of deed of copartnership.

Dissolution by separate deed, or indorsement.

Indorsement.

&c. and in the year of our Lord

of, &c.

year of the reign,

BETWEEN (the original or continuing copartner or copartners) copartners in trade with (the retiring copartner) of the one part, and the said (retiring copartner) of, &c. of the other part. WHEREAS (2) by a certain indenture bearing date

(1) This deed of dissolution is to be understood to have reference to a dissolution by mutual agreement, or by notice, prior to its natural expiration by effluxion of time or the death of either of the parties; in either of which cases no deed of dissolution will be necessary, unless the copartnership deed be defective, in not containing the requisite provisions for such event.

A deed of dissolution of copartnership may be either by a separate instrument, or by indorsement on each part of the copartnership deeds.

(2) If the dissolution be by indorsement, the recital of the deed of copartnership will of course be unnecessary.

on or about the

year

between, &c.

day of which was in the

and made or expressed to be made
THEY the said (copartners)

mutually agreed to become copartners together in

the trade or business of

COPARTNERSHIP.

Deed of Dissolution.

of

for the term of

day of

years from the then next ensuing, (if they the said parties should so long live), but determinable nevertheless at any time during the said term, upon either of the said parties giving six calendar months notice in writing unto the other of them, of his desire to dissolve or discontinue the same, (or as the case may be) (1). AND it was by the said indenture agreed, that upon such dissolution,

(1) Recite the clause or proviso, under which the dissolution Recital of cause is proposed to take place, or recite generally,

"AND WHEREAS the said parties have mutually agreed

to discontinue and dissolve the said copartnership."

of dissolution.

the same trade.

If it were agreed that the party requiring the dissolution Retiring party should not carry on the same trade within a given distance, not to carry on which is sometimes done, to prevent either party from obtaining a dissolution for sinister purposes, add,

"AND by the same indenture it was also provided, that in case of a dissolution of the said copartnership, by any of the means therein mentioned, other than by death, the party requiring or occasioning the same should not, for the space of years thence next ensuing, set up or carry on, or cause to be set up or carried on, the said trade of without the consent of the other of them first obtained for that purpose, within the distance of miles from the place where the said copartnership business should then be carried on."

COPARTNERSHIP.

Deed of Dissolution.

Agreement of parties to dis

solve the copartnership.

Of valuation being made of copartnership stock.

the accounts of the said copartnership should be
settled and adjusted up to the day of the expira-
tion of the said notice, in like manner as if the
said copartnership had expired by effluxion of
time, and that the estate and interest of the party
giving such notice of and in the messuages,
dwelling-house, and premises wherein the said
trade should be then carried on, and also of and
in the stock in trade and effects of the said co-
partnership, should be taken by and assigned to
the other of the said parties, at a fair valuation
and appraisement, and that all proper deeds, con-
veyances, acts, and things, should be made and
done by and between the said parties, which
should be requisite to carry such dissolution and
assignment into effect. AND WHEREAS the said
parties in pursuance of the said in part recited
{or within-written} indenture, have carried on the
said trade or business in copartnership together,
until the
day of
now last past. AND

WHEREAS it hath been mutually agreed by and be-
tween the said parties (or in pursuance of such
notice as aforesaid being given by the said (retiring
partner) to the said (continuing partner) (or as the
case may be)) that the said copartnership shall be
dissolved and cease on the day of the date hereof,
and that the copartnership estate and effects shall
be assigned to and henceforth become the pro-
perty of the said (continuing partner). AND
WHEREAS a valuation and appraisement to the
satisfaction of both the said parties have been

COPART

NERSHIP.

Deed of Dissolution.

made of the (1) stock in trade, merchandise, debts and effects of the said copartnership, at the sum of £ which it hath been agreed shall be taken by the said (continuing partner), and paid for by him to the said (retiring partner) Stock to be months from the date tinuing partner, and paid for by

within the space of hereof, by

taken by con

equal quarterly payments or in- instalments,
each, on the days or times

stalments of £
following, (that is to say) the sum of £

part thereof, on the

day of

the remaining

be in the year
AND that the said instal-
ments shall be secured by the promissory notes (2)
of hand of the said (continuing partner) payable to
the said (retiring partner) or his order, at the times
aforesaid, and also a warrant of attorney to con-
fess judgment against him for securing the punc-
tual payment of the said notes; but that no judg-
ment shall be entered up thereon, until default

and secured by

notes of hand,

and warrant of

attorney.

(1) If it be intended that the lease of the premises where the trade is carried on shall be taken by the continuing copartner, say,

"Of the lease of the messuage or tenement and premises where the said trade or business is now carried on, at the sum of £ ; and of the stock in trade, merchandise, debts, and effects of the said copartnership, at the sum of making together the sum of £

£

hath been agreed shall be taken by," &c. as above.

which it

Lease to be taken by continuing partner.

(2) Or bills of exchange, bonds, &c. as the case may be; and Variation. see ante, p. 61.