Business law

How to handle a contract of partnership

A contract of partnership is one in which a part, the owner agrees with another, the partnership, the holding of the first farm in exchange for a percentage. It is a partnership agreement with allocating among themselves the benefits from the operation.

firm partnership contract

A partnership agreement should always be written and passed by a judge or the mayor or property where the farm or property is. The contract certain issues such as the extent of the plot, the crop to be carried out, and the deadline is agreed and the portion of land for the exclusive use and enjoyment of the tenant should appear.

Owner’s obligations in the contract of partnership
The owner shall provide the resources required for the exploitation of the land within the prescribed period. These resources are products like seeds, pesticides, fertilizers, tools, etc.

If participation in expenditure by the tenant has not been described in the contract, the landlord can not demand any amount. Neither may impose fines or confiscate any good to the tenant without the intervention or mediate the appropriate authority.

Obligations of the tenant in the partnership contract
For its part, the tenant will have to monitor compliance with the standards of protection and conversation of renewable natural resources.

You will have to allow the owner to monitor and perform inspections in the field and on the crops.

The tenant will be prohibited to transfer part or the entire contract unless the owner authorizes it in writing. Similarly, if you have not been determined in writing, neither you may make or permit any improvement. But if the owner does not make any legal complaint, it will be understood as this expresses his acceptance.

To continue with the relationship between the tenant and the owner when the contract will come to an end they may agree to an extension in writing. They can also extend the contract if they do not notice, within three months, that they intend to finish it. In this case it is understood that the contract runs for one year.

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