# BUSINESS PARTNERSHIP DEED
Date: 1 January 2035
Parties: Mara Singh and Thomas Bell
## 1. Purpose and parties
This deed is made on 1 January 2035 by Mara Singh of 5 Rowan Crescent, Cambridge CB1 7LA and Thomas Bell of 44 Mill Road, Cambridge CB1 2AB. They establish Bell & Singh Design Partnership, a general partnership carrying on interior-design consultancy from 2 Station Yard, Cambridge CB1 2JW.
## 2. Facts, scope and terms
Mara contributes £30,000 and Thomas £20,000 in cash on 2 January 2035. They share profits and losses 60:40, respectively, and capital cannot be withdrawn except under this deed. Partnership property, client files and goodwill are held and used for the partnership business, not as a personal asset of either partner.
## 3. Process and responsibilities
Each partner may bind the firm in ordinary business up to £5,000. A commitment above that amount, borrowing, hiring an employee, admitting a partner or changing the business requires both partners' written consent. They will act in good faith, keep proper accounts and disclose material conflicts and benefits.
## 4. Evidence, records and safeguards
The financial year ends on 31 December. The partnership will maintain a UK business bank account, reimburse reasonable documented expenses and prepare annual accounts within 60 days. Drawings are limited to £1,500 per month each unless both partners agree otherwise, and drawings are not an additional profit entitlement.
## 5. Review, escalation and outcome
A dispute first goes to a meeting within 10 business days and then to confidential mediation in Cambridge. This process does not prevent urgent court relief or protect a partner from a statutory filing or creditor obligation. The partners will review insurance, data protection, health and safety and professional obligations for the actual work undertaken.
## 6. Reservations and practical protections
Either partner may retire on 90 days' notice. The continuing partner has a first option to buy the outgoing partner's share at an accountant's fair-value assessment, after deducting undisputed liabilities; completion is due within 60 days of the valuation. Death, bankruptcy or incapacity is dealt with subject to the Partnership Act 1890 and any mandatory law.
## 7. England and Wales law and completion
This completed fictional deed is governed by England and Wales law and is intended to record a partnership agreement, not to incorporate a company or limit third-party rights without their consent. It is signed and delivered as a deed on the date above; each partner should obtain independent advice on tax, liability and registration.