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Partnership agreement necessary?

  • 02-03-2012 12:29pm
    #1
    WexTK
    Closed Accounts Posts: 153 ✭✭


    Hi all,

    if you're entering a straightforward (non milk production) partnership with father on farm, where you both know how profits will be spread and there is a high degree of trust... is a written partnership agreement a neccessity, is it required?

    Thanks in advance,
    WexTK


Comments

  • #2
    lakill Farm
    Registered Users, Registered Users 2 Posts: 4,735 ✭✭✭lakill Farm


    I think its completely key. There are legal percentages on partnership if and only if its not wrote down and signed. Give a copy to both partners


  • #3
    Red Sheds
    Registered Users, Registered Users 2 Posts: 124 ✭✭Red Sheds


    I agree with Lakill, every thing is fine until something goes wrong, something that might not be foreseen now, but it can happen, best have it all written down and signed, if you and father trust each other then I see no reason why both wont see the logic of a simple partnerhsip agreement.


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