Reference
BD1
Title
(Copy) Articles of Co-partnership.
(i) Jos. Barnard.
(ii) Jn. Wing of Thorney Abbey, N'hants, gent.
(iii) Jn. Perkins of Huntingdon, banker.
- - - (1) To be partners for 14 years and to raise £10,000 capital
((i) £5,000, (ii) £2,500, (iii) £2,500)
(2) (i) to manage the business alone, and to sign notes
in the names of all the partners.
(3) Stock to be used for the business alone, and profits
to be shared proportionately.
(4) (i) to pay all wages and overheads, for which purpose
£200 p.a. to be allowed him from the joint stock. To
be allowed more if nec. to increase the size of count-
ing house, or to employ more than one clerk.
(5) No credit to be given persons of bad faith, or in
discharging debts without the consent of other part-
ners. No partner to become bound to anyone without
consent of the others.
(6) Account books to be kept in counting house, or as
agreed among partners. Annual account to be drawn
up on 5 Apr. each yr. Three general account bks. to
be kept; these to be signed by each partner within
one month. Errors in account must be rectified in
6 months.
(7) Any partner wishing to retire must give 6 months
notice in writing. His share of capital to be pd.
in 12 months of retirement, with 5% interest.
(8) Any partner raising money or endorsing cheques etc.
not regularly entered in the bks. to pay twice the
value of the sum transferred, and is liable to
dismissal.
(9) Any partner who speculates in public funds other-
wise than with ready money, or in any way endangers
the credit of the firm, liable to dismissal.
(10) Exors. of a deceased partner can retain his capital
in the business, but they will have no control
over the accounts and may not inspect the bks. &
accounts, except in case of manifest error.
(11) No partner to sell his share of the stock, or put
in a manager without the consent of the others.
(12) At the end of the partnership a general account
to be made of money remaining and the profits to
be shared proportionately.
(13) Disputes which cannot be settled among themselves
to be put in writing and submitted to 3 arbitrators
apptd., (2 apptd. by contending partners and 1 by the
2 already apptd.) To be apptd. in 28 days and their
decision, to be made in 28 days, to be final. To
secure this, such decisions are to be made a rule
of the Ct. of K.B.
(Pencil revisions in the margin throughout text, and a new
clause for the 1814 agreement drafted at end).
Date free text
19 Mar 1801
Production date
From: 1801 To: 1801
Exent
No. of pieces: 1
Level of description
item