The Deed Of Partnership Between Two Partners is a crucial legal document used in Nigeria when two parties wish to formalize their business relationship through a partnership structure. This document is essential for businesses operating under the Nigerian Partnership Act of 1890 and must comply with current Nigerian business regulations and tax laws. It serves as the foundational agreement that governs all aspects of the partnership, from establishment to potential dissolution. The deed typically includes detailed provisions about capital contributions, profit sharing, management rights, partner obligations, and dispute resolution mechanisms. It's particularly important for protecting partners' interests, establishing clear operational guidelines, and preventing future disagreements. The document should be properly stamped and registered in accordance with Nigerian law to ensure its admissibility in legal proceedings.

1. Parties: Details of the two partners entering into the partnership agreement, including full names, addresses, and occupations

2. Background: Brief context about the formation of the partnership and the business purpose

3. Definitions: Definitions of key terms used throughout the deed

4. Partnership Name and Business: The agreed name of the partnership and nature of the business to be carried on

5. Commencement and Term: The start date of the partnership and whether it's for a fixed term or continuing

6. Principal Place of Business: Address of the main business location and provisions for changing it

7. Capital Contributions: Details of initial capital contributed by each partner and provisions for additional contributions

8. Profit and Loss Sharing: The agreed ratio for sharing profits and losses between partners

9. Banking and Financial Matters: Banking arrangements, signing authorities, and financial management procedures

10. Management and Decision Making: Partners' roles, responsibilities, and process for making business decisions

11. Partners' Duties and Obligations: Core responsibilities and obligations of each partner

12. Restrictions on Partners: Limitations on partners' activities, including non-compete and confidentiality obligations

13. Accounts and Records: Requirements for maintaining partnership accounts and records

14. Retirement and Admission: Process for partner retirement and admission of new partners

15. Dissolution and Winding Up: Circumstances and procedures for partnership dissolution

16. Governing Law: Specification that the deed is governed by Nigerian law

17. Execution: Formal execution clause and signature blocks