Purchase and Sale of Partnership Interest (Canada)

Agreement where a partnership will be dissolved and one partner will purchase the interest of the other.

For Immediate Download

$13.95 CAD Add to Cart
60-Day Money Back Guarantee
Please select a state

File types included

  • Microsoft Word
  • Adobe PDF
  • WordPerfect
  • Rich Text Format

Compatible with

  • Windows
  • Mac OS X
  • Linux

For Immediate Download

$13.95 CAD Add to Cart
60-Day Money Back Guarantee
Please select a state

Lawyer prepared

Our forms are kept up-to-date and accurate by our lawyers

Unlike other sites, every document on FindLegalForms.com is prepared by a lawyer, so you can be sure that you are getting a form that is accurate and valid in Canada.

Verified in Canada

Our forms are guaranteed
to be valid in Canada

Our team works tirelessly to keep our products current. As the laws change in Canada, so do our forms.

Over 3,500,000
satisfied customers

In over 10 years of creating and selling legal forms, our focus has never changed: providing our customers high quality legal products, low prices and an experience that takes some confusion out of the law.

60-Days Money Back

Try our forms with no risk

If you are unhappy with your form purchase for any reason at all, contact us within 60 days and we will refund 100% of your money back.
This agreement is to be used where a partnership is going to be dissolved and one former partner will purchase the entire interest of the other partner. Also includes a provision limiting the partner who has sold his interest from creating a competing business.

This form includes special formatting features to assist you in completing the agreement.

This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon.
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Purchase and Sale of Partnership Interest

 

 
THIS AGREEMENT made as of       between      , of       (the “Purchaser”) and      , of       (the “Vendor”).
 
WHEREAS the parties have carried on the business of a       (the “Business”) in partnership with one another under the name      ” (the “Partnership”);
 
NOW THIS AGREEMENT WITNESSES and the parties hereto agree as follows:
1.   Dissolution of Partnership. The Partnership is hereby dissolved as of       (the “Dissolution Date”).
2.   Sale of Partnership Interest by Vendor. The Vendor hereby sells to the Purchaser and the Purchaser hereby buys from the Vendor all of the Vendors right, title and interest in the Business and the Vendors Partnership interest for the sum of $      (the “Purchase Price”), which shall be paid by the Purchaser to the Vendor by certified cheque or bank draft on the Dissolution Date.
3.   Non-Competition by Vendor. The Vendor undertakes that he will not (without the prior written consent of the Purchaser) at any time within       from the Dissolution Date, either individually or in partnership or jointly or in conjunction with any person or persons, firm, association, syndicate, company or corporation, as principal, agent, employee officer, director or shareholder or in any other manner whatsoever carry on or be engaged in or concerned with or interested in, or advise, lend money to, guarantee the debts or obligations of, or permit his name or any part thereof to be used or employed by or associated with, any person or persons, firm, association, syndicate, company or corporation engaged in or concerned with of interested in, any business which competes with the Business, within a radius of       from the location of the Business at      .
4.   Partnership Assets and Liabilities. From and after the Dissolution Date, all stock, equipment, chattels, goodwill, and other assets belonging to the Business will become the sole property of the Purchaser, subject to any existing liens or encumbrances thereon, and that the Purchaser will assume all of the debts and liabilities of the Partnership, whether incurred before or after the Dissolution Date, with the exception of any debts and liabilities which were not known by the Purchaser or recorded in the books and records of the Partnership as of the Dissolution Date. The Purchaser agrees that he or she will indemnify and save harmless the Vendor from all claims, demands and liabilities of every nature and kind whatsoever in connection with the Partnership which the Purchaser expressly assumes pursuant to the terms of this Agreement.
5.   Release. Save and except as expressly otherwise provided in this Agreement, the Vendor and the Purchaser hereby release and forever discharge one another, effective the Dissolution Date, from any and all debts, liabilities, obligations and claims in any way relating to the Partnership, including but not limited to the partnership agreement entered into between the Vendor and the Purchaser, if any.
6.   Further Assurances. Each of the parties covenants and agrees that he or she, and his or her heirs, executors, administrators, successors and assigns will sign such further agreements, assurances, waivers and documents, and otherwise do and perform or cause to be done and performed such further and other acts and things that may be necessary or desirable from time to time in order to give full effect to this Agreement and every part thereof.
7.   Successors and Assigns. This Agreement shall enure to the benefit of and be binding upon heirs, executors, successors and assigns of each of the parties hereto respectively.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the date first above written.
 
 
 
 
 
 
 
     
 
 
 
 
 
 
 
     
 
Number of Pages4
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28482
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Purchase and Sale of Partnership Interest

 

 
THIS AGREEMENT made as of       between      , of       (the “Purchaser”) and      , of       (the “Vendor”).
 
WHEREAS the parties have carried on the business of a       (the “Business”) in partnership with one another under the name      ” (the “Partnership”);
 
NOW THIS AGREEMENT WITNESSES and the parties hereto agree as follows:
1.   Dissolution of Partnership. The Partnership is hereby dissolved as of       (the “Dissolution Date”).
2.   Sale of Partnership Interest by Vendor. The Vendor hereby sells to the Purchaser and the Purchaser hereby buys from the Vendor all of the Vendors right, title and interest in the Business and the Vendors Partnership interest for the sum of $      (the “Purchase Price”), which shall be paid by the Purchaser to the Vendor by certified cheque or bank draft on the Dissolution Date.
3.   Non-Competition by Vendor. The Vendor undertakes that he will not (without the prior written consent of the Purchaser) at any time within       from the Dissolution Date, either individually or in partnership or jointly or in conjunction with any person or persons, firm, association, syndicate, company or corporation, as principal, agent, employee officer, director or shareholder or in any other manner whatsoever carry on or be engaged in or concerned with or interested in, or advise, lend money to, guarantee the debts or obligations of, or permit his name or any part thereof to be used or employed by or associated with, any person or persons, firm, association, syndicate, company or corporation engaged in or concerned with of interested in, any business which competes with the Business, within a radius of       from the location of the Business at      .
4.   Partnership Assets and Liabilities. From and after the Dissolution Date, all stock, equipment, chattels, goodwill, and other assets belonging to the Business will become the sole property of the Purchaser, subject to any existing liens or encumbrances thereon, and that the Purchaser will assume all of the debts and liabilities of the Partnership, whether incurred before or after the Dissolution Date, with the exception of any debts and liabilities which were not known by the Purchaser or recorded in the books and records of the Partnership as of the Dissolution Date. The Purchaser agrees that he or she will indemnify and save harmless the Vendor from all claims, demands and liabilities of every nature and kind whatsoever in connection with the Partnership which the Purchaser expressly assumes pursuant to the terms of this Agreement.
5.   Release. Save and except as expressly otherwise provided in this Agreement, the Vendor and the Purchaser hereby release and forever discharge one another, effective the Dissolution Date, from any and all debts, liabilities, obligations and claims in any way relating to the Partnership, including but not limited to the partnership agreement entered into between the Vendor and the Purchaser, if any.
6.   Further Assurances. Each of the parties covenants and agrees that he or she, and his or her heirs, executors, administrators, successors and assigns will sign such further agreements, assurances, waivers and documents, and otherwise do and perform or cause to be done and performed such further and other acts and things that may be necessary or desirable from time to time in order to give full effect to this Agreement and every part thereof.
7.   Successors and Assigns. This Agreement shall enure to the benefit of and be binding upon heirs, executors, successors and assigns of each of the parties hereto respectively.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the date first above written.
 
 
 
 
 
 
 
     
 
 
 
 
 
 
 
     
 
You've found your form, but will you need others? If there are other related forms you may need in the future, it may be beneficial to look at our combo packages. On average, customers who purchase a combo package save 40% on the related forms they need. Take a look at the combo packages below to see if one is right for you.
Canadian Partnership Forms Combo Package Get 6 forms for just $37.95 CAD Save 52%! Popular Save Money with this combo package containing all of our most popular Canadian Partnership Forms

Looking for something else?