Cameron Blair, a friend from college, asks you to form a partnership to import fragrances. Since graduating, Blair has worked for the Spanish Embassy, developing important contacts among government officials. Blair believes she is in a unique position to capitalize on an important market. With expertise in accounting, you would have responsibility for the partnership's accounting and finance. List the seven items that would need to be incorporated into the written partnership agreement. Seven items that would need to be incorporated into the written partnership agreement 1. 2. 3. 4. 5. 6. 7. Characteristics of Partnership Historical net income (loss) Method of sharing profits and losses among the partners Name, capital contribution, and duties of each partner Name, location, and nature of business Procedures for admitting a new partner Procedures for allocation of income taxes among partners Procedures for documenting the current value of the assets Procedures for forming a limited liability company Procedures for liquidating the partnership Procedures for withdrawal of a partner from the partnership Procedures for withdrawal of assets by the partners