this agreement of partnership is effective as of [beginning date], by and between the undersigned to wit: things to consider formation of the partnership. things to consider value of the partnership. each calendar year, the partnership will conduct an audit of the accounts and a full and complete account of the condition of the partnership shall be made to all the partners. none of the partners of this partnership shall be a broker.

purchase, partnership, employment) with another person or entity and would like to have an understanding of the agreement in place prior to finalizing the details. notwithstanding the terms “partners” and “partnership”, the partners agree that they are not entering into a legal partnership, joint venture or other such business arrangement, nor is the purpose of the partners to enter into a commercial undertaking for monetary gain. the purpose of a memorandum of agreement is to place, in writing, the relationship between any two parties who intend to work on a project or towards an objective. they give you a much more formalized agreement that is far more solid in terms of expectations and assignment of responsibility and delivery. the purpose of the moa is to establish the goals, outcomes, and milestones you hope to achieve with your new partnership.