Once in each year a correct account shall be taken and stated on the ledger of all stock property and assets of the firm, and of all debts and liabilities.
At the close of the partnership a like account shall be taken and stated, and the stock and property, and the debts, shall be equally divided after payment of the liabilities of the firm.
No debt or claim of the firm shall be released or settled without payment in full, unless by consent of both partners.
Neither partner shall have power to bind the firm as surety in any case; and neither partner shall become surety for another without the written consent of the other partner.
Witness our hands and seals this the day and date above written.
Name ____ [seal.]
Name ____ [seal.]
AGREEMENT TO CONTINUE A CO-PARTNERSHIP.
As the partnership existing between the undersigned will expire on the ____ day of ____, 187_, it is hereby agreed that said co-partnership shall continue upon the same terms and conditions as provided in the original articles of co-partnership for the further term of ____ from the date of the expiration of said co-partnership as fixed by the said articles.
Witness our hands (as in articles, giving date).