Graded Project Business Law

Graded Project Business Law

This agreement is made between TIM COUCH and BERT PARKER on 21st December 2012.

Name. The Partnership Name shall be “The Can Do Partnership”.

Term. The Partnership's term shall be 5 Years.

Power and Purpose

Purpose and Power. The partnership's purpose shall be to: give equal say and ownership of business. Powers. The partnership shall have the following powers: 1) to conduct and operate the partnership business; 2) to execute necessary business documents including notes, leases, service contracts, etc; 3) to open bank accounts and pay business expenses and 4) to do all other things necessary to carry on their business.

Percentage Interest, Capital Contribution, Allocation of Income and Losses:

4.1 Percentage Interest: Percentage of partner's interest shall have the in the partnership as to set forth each of the opposite names of partner describe below:

Partner Interest Percentage

Partner Percentage Interest

Tim Couch 50%

Bert Parker 50%

4.2. Initial Capital Contribution: The partners shall contribute to the partnership the following property:

(a) Tim Couch shall contribute to the partnership the sum of $ 8000 in cash and that amount credited to his Capital Account.

(b) Bert Parker shall contribute to the partnership the sum of $ 16000 in cash and that amount credited to his Capital Account.

(c) Couch shall also contribute for Can Do care and training services at one third, 1/3 of his usual salary which is $ 24,000. Tim Couch shall make his contribution for one year of his services will total $8,000 and will also make the initial partner capital contribution equal after one year. At the end of the first year, partnership will then also negotiate with Tim Bert an employment contract.

4.3. On-going Capital Contributions: It is required that each party will contribute $3,000 to the partnership every quarter to cover rent and all the other partnership expenses.

4.4. Failure of Partner to Make Required Contribution: If a Partner Fails to make a required contribution, the other Partner may a) declare the non-contributing Partner in default; or b) contribute the amount owing and treat the payment as a prime rate demand loan to the non-contributing Partner.

4.5. Allocation of Income and Losses. Partnership income and losses shall be distributed

quarterly to both Partners in proportion to their Interest Percentage.

5. Management and Accounting

5.1 Management. All Partnership decisions must be in compliance with the Last Lap Association.

5.2. Accounting. The fiscal year will be a calendar year. Any Partner may examine the ...