Partnership Deed

DEED OF PARTNERSHIP

This deed of partnership made on 28^th day of July 2012.

BETWEEN

Mr. Abdullah S/o. Abdullah, Muslim, Adult, Holding CNIC bearing No. _______________, Resident of House No. ____________, Karachi hereinafter referred to as the “First Party” (which expression shall, unless repugnant to or excluded by the context mean and include their legal heirs, executors, administrators and assigns) is the party of THE ONE PART.

AND

Mr. Abdullah S/o. Abdullah, Muslim, Adult, Holding CNIC bearing No. _______________, Presently resident of _____________________, Karachi South. hereinafter referred to as the “Second Party” (which expression shall, unless repugnant to or excluded by the context mean and include their legal heirs, executors, administrators and assigns) is the party of THE OTHER PART.

Witnesses and it is hereby mutually agreed that the said parties shall become partners upon the following term and conditions:-

1.   That the first party has given 75 Tola 24 carets Gold to the Second party as an investment in his business on basis of profit and loss.

2.   That, in this regard Second party pay Rs. 75,000/- per month as an expense. (Rs. 75,000/- is a part of profit which is settled at the end of this agreement year.)

3.   That, after the completion of every agreement year both the parties audit their account and distribute their share as per profit and loss according to this agreement.

4.   That, in case second party cannot run the business due to any reason he will bound to return only 75 tola gold to the first party.

5.   That, in case of death of first party then second party is bound to continue this agreement and he will look after the family of the first party like his own sister and he will return the gold to the first party’s son namely Sheikh Muhammad when he reach adult (18 years old).

6.   The second party shall maintain properly books of accounts and inform about the business (profit/loss) detail to the first party on monthly basis and first party has reserved fully right to check the books/records of account, securities, vouchers, etc shall be kept at the place of the business and be open for the inspection of each partner of his agent at all reasonable time with power to take copies.

In witness whereof the partners have executed this deed by affixing its proper fee on the day month and year first above mention.

________________________________            ________________________________

WITNESSES:

___________________________        ___________________________

Name:                                                   Name:                       

Father’s name:                                        Father’s name: 

NIC No. :                                              NIC No. :

Address:                                                 Address: