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Frequently asked Questions
A legally binding contract under the Indian Contract Act, 1872, outlining terms for partners to operate a business together, per the Partnership Act, 1932.
It defines roles, profit-sharing and dispute resolution, reducing conflicts and ensuring legal protection for partners.
Partner contributions, roles, profit-sharing, decision-making, IP protection and arbitration clauses, per Contract Act standards.
Yes, when stamped per the Stamp Act, 1899, it’s enforceable under the Contract Act, 1872.
Not mandatory, but a written deed is recommended to avoid disputes and clarify terms, per Partnership Act, 1932.
Yes, stamp duty under the Stamp Act, 1899, varies by state, ensuring evidentiary value and enforceability.
Unregistered firms cannot sue third parties or partners under Section 69 of the Partnership Act, 1932, limiting legal recourse.
Yes, e-signing is valid under the IT Act, 2000, with stamp duty compliance.
We craft sector-specific agreements with roles, IP and arbitration clauses, compliant with Contract Act and Partnership Act standards.
Partnership deed, firm PAN, address proof, partner KYC (e.g., Aadhaar) and an affidavit for verification.
It clarifies roles, secures finances and provides dispute resolution, ensuring efficient and protected operations.
Yes, with mutual consent and Novam Legal’s support, amendments comply with the Indian Contract Act, 1872.