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Partnership agreement necessary?

WexTK · 2012-03-02 12:29:23

Hi all, if you're entering a straightforward (non milk production) partnership with father on farm, where you both know how profits will be spread and there is a high degree of trust... is a written partnership agreement a neccessity, is it required? Thanks in advance, WexTK

02-03-2012 1:29pm

#1

WexTK

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Join Date: March 2011

Posts: 83

Hi all,

if you're entering a straightforward (non milk production) partnership with father on farm, where you both know how profits will be spread and there is a high degree of trust... is a written partnership agreement a neccessity, is it required?

Thanks in advance,
WexTK

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Comments

#2 02-03-2012 3:30pm

lakill Farm

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I think its completely key. There are legal percentages on partnership if and only if its not wrote down and signed. Give a copy to both partners

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#3 02-03-2012 11:52pm

Red Sheds

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I agree with Lakill, every thing is fine until something goes wrong, something that might not be foreseen now, but it can happen, best have it all written down and signed, if you and father trust each other then I see no reason why both wont see the logic of a simple partnerhsip agreement.

0