A Deed of Partnership is a formal agreement drawn up in the form of a deed which outlines the respective capital contributions, profit-sharing percentages, and other significant details among partners in a partnership business.
Distributive share refers to the allocation of income, gain, loss, deduction, or credit to a partner in a partnership, typically determined by the partnership agreement.
A Memorandum of Understanding (MOU) is a formal, non-binding agreement between two or more parties outlining the terms and details of an understanding, including each party's requirements and responsibilities.
A silent partner, also known as a limited partner, is an investor who contributes capital to a business but does not involve themselves in the daily management or operations of the company. Unlike general partners, silent partners have limited liability, meaning they can only lose the amount of their investment.
