“5. I to make drawings, give directions, and make surveys, the company paying the travelling expenses to either of us when upon engine business.
“6. You to keep the books and balance them once a year.
“7. A book to be kept wherein to be marked such transactions as are worthy of record, which, when signed by both, to have the force of the contract.
“8. Neither of us to alienate our share without consent of the other, and if either of us by death or otherwise shall be incapacitated from acting for ourselves, the other of us to be the sole manager without contradiction or interference of heirs, executors, assignees, or others; but the books to be subject to their inspection, and the acting partner of us to be allowed a reasonable commission for extra trouble.
“9. The contract to continue in force for twenty-five years, from the 1st of June, 1775, when the partnership commenced, notwithstanding the contract being of later date.
“10. Our heirs, executors, and assignees, bound to observance.
“11. In case of demise of both parties, our heirs, &c., to succeed in same manner, and if they all please, they may burn the contract.
“If anything be very disagreeable in these terms, you will find me disposed to do everything reasonable for your satisfaction.”—Boulton MSS.
[ [147] Watt to Boulton, 3rd July, 1776. Boulton MSS.
[ [148] Watt to Boulton, 8th July, 1776. Boulton MSS.