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Whose signatures should generally be on a partnership deed?

Answer and explanation

Correct answer: Of all partners

Direct answer: Option A, all partners. A partnership deed is the written agreement that records the mutual consent, rights, duties and responsibilities of the partners. Since every partner is bound by its terms, every partner should normally sign it. Step by step: first, the partners agree on business rules; second, those rules are written in the deed; third, signatures show that each partner accepts those rules. Option A is correct because it confirms the consent of all partners. Option B is wrong because a customer is not a partner merely because the customer deals with the firm. Option C is wrong because a bank manager does not create the partnership agreement. Option D is wrong because an employee is not normally a party to the partnership deed. A signature also helps prevent later disputes about whether a partner accepted a particular condition. Exam cue: deed means partners’ agreement, so look for signatures of all partners.

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SignaturesConsentPartners

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