Page images
PDF
EPUB

DISSOLUTION OF PARTNER

3111P.

Parties.

of partnership.

No. CI.

DEED of DISSOLUTION of PARTNERSHIP where two of the PARTNERS relinquish their SHARE in the PARTNERSHIP EFFECTS, and covenant to make over certain PROPERTY, and the remaining PARTNER covenants to indemnify them against the PARTNERSHIP CLAIMS.

THIS INDENTURE, made the

day of, BETWEEN A. B. and C. D., both of, &c., bankers [releasing partners], of the first part, E. F. of, &c., banker, G. H. of, &c., and L. M. of, &c. [trustees] of the second part, and the said E. F. [remaining WHEREAS for some time prelast, the said E. F., A. B. and on the business of bankers in partnership, day of they suspended their payments.

Construction partner] of the third part.
viously to the
day of
C. D. carried
and on the

accounts.

Debt of re

ners.

[ocr errors]

Statement of AND WHEREAS a statement of the accounts of the said E. F., A. B. and C. D. was submitted to the creditors, present at a meeting held at their banking house in, &c. aforesaid, on the day of this instant month of and by the said leasing part- statement it appeared that the said A. B. and C. D. were indebted to the said partnership in the sum of £1000, which debt is forthwith to be paid by them, and that the separate property of each of them the said A. B. and C. D. (exclusively of clothes, wearing apparel, and of money sufficient to pay the said debts of £1000) consisted of the shares and sums specified in the schedule hereunder written or hereunto annexed, and that the separate property of the said E. F. was more than sufficient, after satisfying all the separate creditors of the said E. F., to satisfy so much of the debts due from the said partnership of the said E. F., A. B. and C. D., as the debts, monies and effects of such partnership should be insufficient to satisfy. And at the said meeting it was agreed that the said partnership of the said E. F., A. B. and C. D. should be dissolved as from the instant, and that the said A. B. and C. D. should covenant to assign to the said E. F., G. H. and M. N. upon the trusts hereinafter mentioned, the said

day of

DISSOLU

TION OF PARTNER

SHIP.

shares and sums specified in the said schedule hereunder written or hereunto annexed, and also the share and interest of them the said A. B. and C. D. in the debts, monies and effects of the said partnership, and should give the said E. F., G. H. and M. N. full powers over the same, and that the said E. F. should indemnify the said A. B. and C. D. against the payment of the debts due from the said partnership of the said E. F., A. B. and C. D., and against all other claims on account of the same partnership, and should enter into a covenant for that purpose, and that the said A. B. and C. D. should release the said E. F. from all claims on account of the said partnership. NOW THIS INDENTURE WIT- Dissolution NESSETH, that in pursuance of the said agreement, they ship. the said E. F., A. B. and C. D., with the mutual consent of each other, have determined and dissolved, and by these presents do determine and dissolve, as from the day

of partner

releasing

release cer

to trustees.

of instant, the said partnership in which they have been so engaged as hereinbefore is mentioned. AND THIS Covenant by INDENTURE FURTHER WITNESSETH, that in further partners to pursuance of the said agreement on the part of the said tain property A. B. and C. D., and in consideration of the covenant hereinafter contained on the part of the said E. F., they the said A. B. and C. D. do hereby jointly for themselves, their heirs, executors and administrators, and each of them doth hereby separately, for himself, his heirs, executors and administrators, covenant with the said E. F., G. H. and M. N., their executors, administrators and assigns, that they the said A. B. and C. D. and each of them, shall and will, when so requested by the said E. F., G. H. and M. N., or the survivors or survivor of them, or the executors or administrators of such survivor, and in such manner as they or he, or their or his counsel in the law shall advise and require, well and effectually assign and make over all and singular the shares and sums specified in the said schedule hereunder written or hereunto annexed, and also all the shares and interest of them the said A. B. and C. D., and each of them, in the debts, monies and effects of the said partnership hereby dissolved as aforesaid, unto the said E. F., G. H. and M. N., their executors, administrators and assigns, upon trust to sell and dispose of, collect, Upon trusts

DISSOLU

TION OF PARTNER

SHIP.

releasing partners,

get in, receive and convert the same into money, and to apply and dispose of the monies arising thereby in such manner as shall be declared concerning the same in and by an indenof indenture ture already prepared and engrossed, and intended to bear even of even date. date with these presents, and to be made between the said E. F. of the first part, the said A. B. and C. D. of the second part, and the said E. F., G. H. and M. N. of the third part. AND THE SAID A. B. and C. D. do, and each of them doth, so far as they or he are or is entitled or interested, hereby irrevocably make, nominate and appoint, &c. [Power of attorney from the said A. B. and C. D. to the said E. F., G. H. and M. N., to receive the said shares and sums in the said schedule, and the debts, monies and effects of the said partnership.— Receipts of the said E. F., G. H. and M. N., to be sufficient disCovenant by charges.] AND THE SAID A. B. and C. D. do hereby jointly for themselves, their heirs, executors and administrators, and each of them doth hereby separately for himself, his heirs, executors and administrators, covenant with the said E. F., G. H. and M. N., their executors, administrators and assigns, in manner not to take following (that is to say), that they the said A. B. and C. D., or either of them, or their or either of their executors or administrators, shall not nor will, at any time or times hereafter, by themselves or himself, or by any agent or agents, receive and take into their or his possession the said shares and sums specified in the said schedule hereunder written or hereunto annexed, or the debts, monies and effects of the said partnership or any of them, or any part thereof respectively, nor release nor discharge the same or any of them or any part nor to release thereof respectively, nor release, discontinue or become nonsuit without con- in any suit or action, to be commenced or prosecuted for the recovery of the same premises or any of them, or any part thereof respectively, without the written consent of the said E. F., G. H. and M. N., or the survivors or survivor of them, or the executors or administrators of such survivor, for that nor to hinder purpose first had and obtained, nor commit or suffer, nor do or receiving the execute, or be parties or privies, or party or privy, to any act, deed, matter or thing whatsoever, whereby or by means whereof the said E. F., G. H. and M. N., or any of them, or their or any of their executors, administrators and assigns, shall or may

possession of shares &c.,

to be as

signed.

premises

sent,

trustees from

same,

TION OF PARTNER

SHIP.

ther assur

releasing

all claims

pect of part

be hindered or obstructed from selling, disposing of, collecting, DISSOLU getting in, or receiving the said shares, sums, debts, monies and effects, or any of them, or any part thereof respectively; but on the contrary, that they the said A. B. and C. D. and each of them, and their and each of their executors and administrators, shall and will, at the expense of the said trust premises, do, perform and execute, all such further and other lawful and rea- and for fursonable acts, deeds, matters and things whatsoever, as the said ance. E. F., G. H. and M. N., or the survivors and survivor of them, or the executors or administrators of such survivor, or their or his counsel in the law, shall advise and require for the better and more effectually enabling the said E. F., G. H. and M. N., and the survivors and survivor of them, and the executors or administrators of such survivor, to sell, dispose of, recover, collect, get in and receive the said shares, sums, debts, monies and effects, and every of them, and of every part thereof respectively: AND THIS INDENTURE FURTHER Release by WITNESSETH, that in further pursuance of the said agree- partners from ment on the part of the said A. B. and C. D., and in considera- &c., in restion of the covenants hereinafter contained on the part of the nership said E. F., they the said A. B. and C. D. have, and each of them hath acquitted, released, and for ever discharged, and by these presents doth acquit, release and for ever discharge the said E. F., his heirs, executors and administrators, and his, their and every of their estates and effects whatsoever and wheresoever, of and from all actions, suits, reckonings, accounts, claims and demands whatsoever which the said A. B. and C. D., or either of them, or their or either of their heirs, executors or administrators, have or hath, or can or may have, against or upon the said E. F., his heirs, executors or administrators, or his, their, or any of their estates or effects, for or by reason, or on account of the said partnership, or of any act, deed, matter or thing in anywise relating thereto : AND Indemnity of THIS INDENTURE LASTLY WITNESSETH, that in partners from further pursuance of the said agreement on the part of the said E. F., and in consideration of the powers and covenants hereinbefore respectively given and entered into by the said A. B. and C. D., he the said E. F. doth hereby for himself, his heirs, executors and administrators, covenant with the

effects.

the releasing

all debts due

from the co

partnership.

TION OF PARTNER

SHIP.

DISSOLU said A. B. and C. D., and each of them, and their and each of their executors and administrators, that he the said E. F., his heirs, executors and administrators, shall and will, at all times hereafter, save, defend, keep harmless and indemnified the said A. B. and C. D., and each of them, and their and each of their heirs, executors and administrators, and their and each of their estates and effects whatsoever and wheresoever, from and against all and singular the debts now due and owing from the said partnership hereby dissolved as aforesaid, and every of them, and every part and parts of them respectively, and of, from and against all actions, suits, claims and demands whatsoever, for or on account of the said debts or any of them, or any part thereof, or in anywise relating thereto, and also from and against all other actions, suits, claims and demands whatsoever which are or shall be committed, prosecuted, had or made against or upon the said A. B. and C. D., or either of them, or their or either of their heirs, executors or administrators, or their or any of their estates or effects, by any person or persons whomsoever, by reason or on account of the said partnership hereby dissolved as aforesaid, or in anywise relating thereto, other than and except by the said E. F., G. H. and M. N., or any of them, or their or any of their executors, administrators or assigns, by reason or on account of the covenant and powers hereby entered into and given by the said A. B. and C. D. respectively. IN WITNESS, &c.

THE SCHEDULE REFERRED TO IN THE ABOVE-WRITTEN
INDENTURE.

« PreviousContinue »