Canada Limited Partnership Agreement

Set up a Canadian limited partnership with this Limited Partnership Agreement template for Canada.

• Liability. The general partner will have unlimited liability for the debts and liabilities of the partnership. The liability of the limited partners is limited to the amount of the subscription paid by each of them for their partnership units.
• Management. Only the general partner has the authority to manage the business of the partnership.
• Assets. The general partner will retain ownership of all assets and equipment acquired and employed in the course of the business of the partnership. The partnership will not own any of the assets and equipment, but the partners will be entitled to share in the profits of the business.
• Withdrawal of Partner. The remaining partners have a right of first refusal to purchase the interest of a withdrawing partner.

This Canada Limited Partnership Agreement template is available in MS Word format, and is fully editable to meet your needs.