1. Names and address of partners.
2. Name of partnership – This will determine whether or not the name should be registered.
3. Nature of business – This will determine the extent of liability of the firm.
4. Place of business – Where the business will be situated.
5. Date of commencement of business – The time or period when the business will commence.
6. Duration of the business – How long the business will last.
7. Contribution – The amount expected of each member to be contributed for partnership.
8. Management – How the partnership agreement will be managed.
9. Premium – The amount paid by a partner to be admitted into partnership.
10. Profit – The mode of sharing profit.
11. Salary – The mode of salary and what each partner will be entitled to.
12. Partnership properties – The mode of acquired properties.
13. Bankers – Bankers of the partnership.
14. Accounts – Who the signatory to the accounts will be.
15. Retirement – Where partnership is not for a fixed period, the retirement of any partner will dissolve the partnership. However, if it is for a fixed duration, no partner can retire except by the consent of other members.
16. Expulsion or Suspension – No majority of partners can expel or suspend a partner except otherwise stated.
17. Dissolution – A partnership is dissolved by death or bankruptcy of one partner except otherwise stated.
18. Arbitration/dispute resolution – Partners can go into arbitration to settle disputes.

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