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The Partnership Act, 1932 nowhere mentions that the Partnership Agreement is to be in written or oral format. Thus the general rule of the Contract Act applies that the contract can be 'oral' or 'written' as long as it satisfies the basic conditions of being a contract i.e. the agreement between partners is legally enforceable.
Articles of partnership is a voluntary contract between/among two or more persons to place their capital, labor, and skills into a business, with the understanding that there will be a sharing of the profits and losses between/among partners. Outside of North America, it is normally referred to simply as a partnership agreement. [1]
Japan has bilateral agreements with the following countries and blocs: ASEAN (Entry into force 2009) Australia (Entry into force 2015) European Union (EU–Japan Economic Partnership Agreement) (Entry into force in 2019) India (Entry into force in 2011) Indonesia (Japan–Indonesia Economic Partnership Agreement) (Entry into force in 2008)
This agreement can be considered an intermediate step between free trade area and single market in the process of economic integration. Economic partnerships are sometimes described as high standard variants of free trade agreements. One example is the Japan-Mexico Economic Partnership Agreement. [1]
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