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Are the mentioned terms and conditions of partnership contract valid?
14-Mar-2023 (In Documentation Law)
A is planning to do partnership for the period of 5 years with B with terms: 1. A will give 5 lakh to B to invest in XYZ business for the period of 5 years. 2. A will give fixed profit of 15000 PM for 1st year which will increase per year.Apart from that, whatever profit made will be taken by A. 3. If B wanted to break this partnership anytime within 5 years, he has to pay back 10 lakh to person (4) If A wanted to break this partnership within 5 years, he will not get anything back anything.(5) After 5 year, B will give back 4 lakh to A These will be on 50rs stamp paper. Is it legally ok?
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