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Includes requirements for partnership books, fiscal year close, periodic accountings with distribution timing, partner time commitment, management authority and contract limits, salary treatment, net profit definition, partner withdrawal notice, and dissolution buyout option and valuation mechanics.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/letters/","Letters",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/tennessee-general-partnership-agreement-template/282151/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/tennessee-general-partnership-agreement-template/282151.png","ImageObject",442,249,{"name":42,"@type":43},"Evangeline","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-27","2026-09-16",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",10,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What purpose and business scope does the agreement cover?","Question",{"text":63,"@type":64},"It states that the partners voluntarily associate as general partners to conduct the general business of the partnership and any other agreed type of business.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How are initial capital contributions and withdrawals handled?",{"text":68,"@type":64},"Each partner contributes an initial capital amount to a partnership checking account as specified. No partner may withdraw capital without express written consent of the other partners.",{"name":70,"@type":61,"acceptedAnswer":71},"What happens on dissolution when a partner withdraws?",{"text":72,"@type":64},"The remaining partner may continue the partnership by purchasing the withdrawing partner’s interest in assets and goodwill, with the purchase value determined under the agreement’s valuation provisions.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},282151,1789570475,{"code":4,"msg":82,"data":83},"success",[84,89,94,99,104,109,114,118,123],{"id":85,"doc_module":22,"doc_module_name":25,"category_name":86,"show_sort_weight":87,"slug":88},11,"Presentations",90,"presentations",{"id":90,"doc_module":22,"doc_module_name":25,"category_name":91,"show_sort_weight":92,"slug":93},12,"Resumes",80,"resumes",{"id":95,"doc_module":22,"doc_module_name":25,"category_name":96,"show_sort_weight":97,"slug":98},14,"Invoices",70,"invoices",{"id":100,"doc_module":22,"doc_module_name":25,"category_name":101,"show_sort_weight":102,"slug":103},15,"Posters",60,"posters",{"id":105,"doc_module":22,"doc_module_name":25,"category_name":106,"show_sort_weight":107,"slug":108},16,"Social Media",50,"social-media",{"id":110,"doc_module":22,"doc_module_name":25,"category_name":111,"show_sort_weight":112,"slug":113},17,"Forms",40,"forms",{"id":115,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":116,"slug":117},18,30,"letters",{"id":119,"doc_module":22,"doc_module_name":25,"category_name":120,"show_sort_weight":121,"slug":122},21,"Paper Templates",5,"papers-templates",{"id":124,"doc_module":22,"doc_module_name":25,"category_name":125,"show_sort_weight":4,"slug":126},158,"General","general-158",{"code":4,"msg":82,"data":128},{"doc_id":79,"user_id":129,"nickname":42,"user_avatar":130,"doc_module":22,"category_id":115,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":136,"language":137,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":12,"update_tm":80,"read_time":26},13056703019662,"https://ap-avatar.wpscdn.com/avatar/be000253a8e92610077?_k=1778726343310543188","Tennessee  \nGeneral Partnership Agreement  \n   , residing at    \n(name of partner) (address)  \n  and   \n(name of partner)  \n  , residing at    \n(address)  \n  , hereinafter referred to as the“Partners” agree as follows:  \n1. Type of Business.  \nThe Partners voluntarily associate themselves together as general partners for the purpose of  \nconducting the general business of   , and any other  \n(type of business)  \ntype of business that may from time to time be agreed on by the Partners.  \n2. Name of Partnership.  \nThe name of the Partnership shall be    \n(name)  \n  . This name will be registered in the office of the Secretary of State as the fictitious name of the Partnership.  \n3. Term of Partnership.  \nThe Partnership shall commence on   \n(“the execution of this Agreement” or specify date)  \nand shall continue until   or  \n(specify date or “dissolved by mutual agreement of the parties”)  \nterminated as provided in this Agreement.  \n4. Place of Business.  \nThe principal place of business of the Partnership shall be at   ,  \n(address)  \n  ,   , Tennessee.  \n(city) (county)  \nand any other place or places that may be mutually agreed on by the parties to this Agreement.  \nSample General Partnership Agreement  \n5. Initial Capital.  \nThe initial capital of this Partnership shall be the sum of $____________________________,  \n(amount)  \nto which each Partner shall contribute by depositing in a checking account in the name of the  \nPartnership at the   in  (bank) (city)  \nTennessee on or before  , the following amounts:  \n(date)  \n  shall contribute $    \n(name)  \n  shall contribute $    \n(name)  \n6. Withdrawal of Capital.  \nNo Partner shall withdraw any portion of the capital of the Partnership without the express written consent of the other Partners.  \n7. Profits and Losses.  \nAny net profits or losses that may accrue to the Partnership shall be distributed to or borne by the Partners.  \n(in equal proportions or in the following proportions:   specify proportions. e.g. [name], 60%; [name], 40%)  \n____________________________________________________  \n8. Partnership Books.  \nAt all times during the continuation of the Partnership, the Partners shall keep accurate books of account in which all matters relating to the Partnership, including all of its income, expenditures,  \nassets, and liabilities, shall be entered. These books shall be kept on    \n(Accrual or Cash)  \nbasis and shall be open to examination by either Partner at any time.  \n9. Fiscal Year.  \nThe fiscal year of the Partnership shall end on the   day of    \n(month)  \neach year.  \nSample General Partnership Agreement  \n10. Accountings.  \nA complete accounting of the Partnership affairs as of the close of business on the last day of March, June, September, and December of each year shall be rendered to each Partner within  \n  days after the close of each of those months. On each accounting, the net profits of (Number)  \nthe Partnership shall be distributed to the Partners as provided in this Agreement to the extent that  \ncash is available for this distribution. Except as to manifest errors discovered within    \n(Number)  \ndays after its rendition, each accounting shall be final and conclusive to each Partner.  \n11. Time Devoted to Partnership.  \nEach Partner shall devote his or her undivided time and attention and use the utmost of his or her skills and ability in furtherance of the Partnership business.  \n12. Management and Authority.  \nEach Partner shall have an equal voice in the management of the Partnership and shall have authority to bind the Partnership in making contracts and incurring obligations in the name and on the credit of the firm. However, no Partner shall incur any obligations in the name or on the credit of the firm exceeding $  without the express written consent of the other Partner. Any obligation incurred in violation of this provision shall be charged to and collected from the individual Partner incurring the obligation.  \n13. Salaries.  \nAs compen","cbCaigzOIMqBguXy","https://ap.wps.com/l/cbCaigzOIMqBguXy","pdf",63703,6,"English","# Type of Business\n# Name of Partnership\n# Term of Partnership\n# Place of Business\n# Initial Capital\n# Withdrawal of Capital\n# Profits and Losses\n# Partnership Books\n# Fiscal Year\n# Accountings\n# Time Devoted to Partnership\n# Management and Authority\n# Salaries\n# Net Profits Defined\n# Withdrawal of Partner\n# Option to Purchase Terminated Interest\n# Purchase Price of Partnership Interest","[{\"question\":\"What purpose and business scope does the agreement cover?\",\"answer\":\"It states that the partners voluntarily associate as general partners to conduct the general business of the partnership and any other agreed type of business.\"},{\"question\":\"How are initial capital contributions and withdrawals handled?\",\"answer\":\"Each partner contributes an initial capital amount to a partnership checking account as specified. No partner may withdraw capital without express written consent of the other partners.\"},{\"question\":\"What happens on dissolution when a partner withdraws?\",\"answer\":\"The remaining partner may continue the partnership by purchasing the withdrawing partner’s interest in assets and goodwill, with the purchase value determined under the agreement’s valuation provisions.\"}]","Tennessee General Partnership Agreement Template | PDF"]