Reference
BD6
Title
Articles of Partnership.
(i) Jos. Barnard.
(ii) Thos. Barnard.
(iii) Fra. Green of Bedford, merchant.
(Rec. that (iii) was adm. as partner on 1 Jan. 1813
in consid. of £1,500 pd. into joint stock.)
- - (1) To be partners for 12 yrs. and to raise £30,000
joint stock.
(2) (i) & (ii) to conduct business, & notes to be signed
by them in names of all the partners. (iii) can
sign notes etc. if both (i) & (ii) are absent.
(3) Joint stock to be used for the business alone.
Partners can carry on another trade. Proceeds to
be proportionately divided.
(4) Wages & overheads to be pd. by (i) & (ii) who are
to be pd. £400 p.a. for this purpose.
(5) as in (5) in no.1.
(6) as in (6) in no.1, except that annual account to
be made on 1 Jan.
(7) (i) can retire at 6 months notice; (ii) & (iii)
can retire after 6 yrs. or 9 yrs. on 6 months
notice. Retiring partner to assign his share to
survivors, & is to be pd. his share of the capital at
5% in 1 yr. (i) can assign all his share to (ii).
Surviving 2 partners can continue p'ship, with
same liberty to retire. If 2 retire the survivor
can continue alone or take a fresh partner. If (i)
or (ii) die or retire, (iii) to have sole conduct
of the business.
(8) As in (8) in no.1.
(9) As in (9) in no.1. Also that partners so dismissed
shall not carry on business of a banker in Bedford
town or county, so long as other partners continue
to do so, under pain of £10,000 damages.
(10) As in (10) in no.1.
(11) As in (11) in no.1. Except that (i) may transfer
his share to (ii).
(12) Whenever there is a credit balance exceeding
£15,000, the excess to be invested in bank annuities.
(13) As in (12) in no.1.
(14) Disputes to be referred to Samuel Whitbread of South-
ill esq., or if he is dead or unwilling to 3 arbit-
rators (chosen as in no.1.). Award to be made a rule
of K.B.
(15) Rec. that on commencement of p'ship £10,000 3%
bank annuities, £752 reduced bank annuities,
£20,000 6% bank annuities were part of the assets
of (i) & (ii). - - Agreed that this to be taken to
be worth £21,851, any deficit or excess on this
being pd. or taken by (i) & (ii), and that the div-
idends are to be divided between the partners.
If, on sale of these, they realise less than
estimated, the deficit to be made up by (i) & (ii).
Witn. : Theed Pearse.
3 applied seals (conv.)
Date free text
16 Apr. 1814
Production date
From: 1814 To: 1814
Exent
No. of pieces: 1
Level of description
item