New Partnership with no signed partnership agreement

Can anyone help. What happens if a new partnership has been set up (unicorporated) and no agreement has been formally drafted or signed. When I asked them if they had one they said that they could not afford an agreement to be drafted at present>

Thanks in advance for any advise.

Comments
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Not necessarily needed

Batty Girl |

That does help - many thanks

Settingupalone |

Get something in writing over a break up

Paul Scholes |
Paul Scholes's picture

Just remember to disclaim liability

bookmarklee |
bookmarklee's picture

Good point Mark

Paul Scholes |
Paul Scholes's picture

I have a partnership

coreyisme |