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Legal provisions on partnership in the Civil Code
Article 967 A partnership contract is an agreement between two or more partners to share benefits and bear risks for the same business purpose.

Article 968 Partners shall perform their capital contribution obligations in the agreed manner, amount and payment period.

Article 969 The capital contributions made by partners, income obtained from partnership affairs according to law and other property belong to the partnership.

Before the termination of the partnership contract, the partners may not request the division of the partnership property.

Partnership is an important civil legal system, and partnership contract is a new type of contract in the civil code. In real life, it is often seen in coffee shops, tea shops, restaurants and gyms, and the partners are mostly colleagues, friends and classmates.

The reason why a partnership has strong vitality is that it is very simple to set up and does not need industrial and commercial registration enterprises. It is enough to have a contract, even if it is a verbal agreement. Internal management is also simpler than the company.

Unless otherwise agreed in the partnership contract, the partners' decision on partnership affairs shall be unanimously agreed by all partners.

1. Joint execution by all partners * * *: Partnership affairs are jointly executed by all partners * * *.

2. Entrust some partners to execute: according to the agreement in the partnership contract or the decision of all partners, one or several partners may be entrusted to execute the partnership affairs; Other partners no longer carry out partnership affairs, but enjoy supervision.

3. Partners perform partnership affairs separately: if partners perform partnership affairs separately, the executive partner may object to the affairs performed by other partners; After raising an objection, the other partners shall suspend the execution of the transaction.

If there is an agreed capital contribution arrangement in the partnership contract, the partners shall perform it in accordance with the agreement. Similarly, it can also be stipulated in the partnership contract that no capital contribution is required, or some partners do not need to contribute.

Regarding the mode of capital contribution, there is no restriction in this article of the Civil Code. Therefore, individual partnership (no partnership) can use monetary property or non-monetary property agreed by all partners, which is not prohibited by law. Of course, in order to avoid disputes in the process of partnership, it is recommended to operate the investment arrangement of non-monetary property carefully, at least with a written contract, and it is best to have it evaluated by a third-party professional organization.

Legal basis:

Article 967 of the Civil Code of People's Republic of China (PRC) * * * Partnership Contract is an agreement between two or more partners for the same business purpose, in which * * * enjoys the benefits and * * * bears the risks.

Article 968 Partners shall perform their capital contribution obligations in the agreed manner, amount and payment period.

Article 969 The capital contributions made by partners, income obtained from partnership affairs according to law and other property belong to the partnership.

Before the termination of the partnership contract, the partners may not request the division of the partnership property.