Virginia partnership agreements are the official company rules that guide a partnership’s operations. These regulations must be developed by the Virginia partners through research and discussion as they will have a long-term effect on each one’s standing and authority in the business.
This contract also demonstrates that certain declarations regarding the company’s existence, tax policy, and structure have been established by a certain date under the Virginia partners. As such, each partner of the Virginia company should read this contract thoroughly before deciding to execute it and accepting the responsibilities it assigns.
“Partnership agreement” means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business.”