Sample Agreement between Two Persons


A sample agreement between two persons, often called a contract or a partnership agreement, is a written agreement that outlines the terms and conditions that two parties agree to abide by in their business relationship. While it is not legally required to have a written agreement, it is highly recommended to avoid any misunderstandings and disputes that may arise in the future.

In this article, we will provide an outline of a sample agreement between two persons that covers the basic elements required for such a document.

Introduction

The introduction of the agreement should state the names and addresses of both parties, along with their intentions to form a partnership or business relationship. It should also include any relevant background information about the parties, such as their business experience, qualifications, and objectives.

Purpose

The purpose section defines the goals or objectives of the partnership. This section should specify what each party will contribute to the partnership, such as capital, labor, or other resources. It should also state the expected outcomes or benefits for both parties.

Terms

The terms section of the agreement outlines the specific details of the partnership. This includes the duration of the partnership, how profits and losses will be shared, how decisions will be made, and any other relevant terms that both parties agree to abide by.

Responsibilities

The responsibilities section of the agreement defines the tasks and duties that each party will be responsible for. This should include a detailed description of each party`s obligations for the partnership to function effectively.

Dispute Resolution

The dispute resolution section outlines the procedures that will be followed if a dispute arises between the parties. This may include mediation, arbitration, or other forms of conflict resolution.

Confidentiality

The confidentiality section of the agreement ensures that any sensitive information shared between the parties remains confidential. This may include business plans, financial information, or proprietary technology.

Termination

The termination section outlines the circumstances under which the partnership may be terminated. This may include the expiration of the partnership term, mutual agreement, or breach of contract by one of the parties.

Conclusion

In conclusion, a sample agreement between two persons is an essential document that outlines the terms and conditions of a partnership or business relationship. While it may seem tedious to create such a document, it is crucial to avoid any misunderstandings and disputes that may arise in the future. Following the basic outline provided in this article will ensure that your partnership agreement is comprehensive and legally binding.