day. AND the said parties do hereby further agree, that they will settle and adjust all accounts, and divide the profits of the said business every six months, reckoning from the date hereof. And that the said A. B. the younger, shall be allowed to take such sum from time to time, on account of his share of the profits as the said A. B. the elder, shall think proper, and no more. AND ALSO, that the said A. B. the younger, shall attend solely, and devote his whole time to the carrying on the said business, for the benefit of him. self and his said father jointly, as aforesaid; but that the said A. B. the elder, shall not be obliged to attend to the same more than he thinks proper. AND FURTHER, that if either of the said parties shall be desirous to put an end to this agreement, and to discontinue the said partnership, and of such his desire, shall give three calendar months notice in writing to the other; then from and after the expiration of such notice, this agreement shall be void, and the said partnership shall end and determine. AND LASTLY, that the said parties will hereafter sign or execute any deed or other instrument, that may be deemed necessary for carry. ing into full effect their intentions, as hereinbe ore expressed. IN WITNESS whereof the said parties have hereunto set their hands the day and year first above written.

AGREEMENT between Father and Son, whereby the former admits the name of the latter into the firm, and allows him a certain yearly sum out of the profits, and also a part of the house to reside in, and coals and candle; but does not in other respects recognize him as a partner. He also agrees to indemnify him against any loss, &c. on account of his name being used, with

E

a proviso, that if the Son misbehaves himself, he shall quit the Premises and concern, on having one week's notice from the Father; and another proviso, that if the Father wishes to put an end to the present agree. ment, he shall be at liberty to do so, on giving to the Son three months notice.

Note, the intent of this instrument was to give the Son a nominal, without a real partnership; thereby to prevent him from incumbering the concern, or making the Father liable to his debts.

ARTICLES OF AGREEMENT, indented, made, and entered into this

in

day of

in the

year of the reign, &c. and in the year of our Lord 18BETWEEN A. B. the elder, of, &c. of the one part, and A. B. the younger, of the same place, son of the said A. B. tha elder, of the other part. WHEREAS the said A. B. the elder hath for several years past carried on the trade or business of a street aforesaid, and he hath agreed to admit the name of his said son into the firm, and to allow him out of the profits, gains, and increase of the said trade, or business, so to be carried on in their joint names, from the time hereinafter specified, the yearly sum of money hereinafter mentioned, and also to make him such other allowances, as followeth, for the term and on the conditions hereinafter set forth. But it has been agreed between the said parties hereto that the said A. B. the younger, shall have no other interest whatever in the said trade or bu◄ siness, or in the stock, gains, profits, and increase thereof, than such yearly sum and allowances, and shall not be considered as a partner with the said A. B. the elder, in the said trade or business, otherwise than by his name being used in the firm for carrying on the same; and that he shall have no power, control, or interference, in any other respects, other

wise than as a covenant servant.* Now THEREFORE THESE PRESENTS WITNESS, and the said A. B. the elder, and A. B. the younger, do hereby for themselves, severally, and res pectively, and for their several and respective heirs, executors, and administrators, mutually covenant, promise, and agree, to and with each other, and to and with the executors, administrators, and assigns, of each other, in manner following: that is to say, that from and after the day of next, and which will be in the year of our Lord 18 the said trade or business, of now carried on by the said A. B. the elder, shall be thenceforth carried on in the joint names, and under the firm of “ A. B. and son," in the premises where the same is now carried on in street aforesaid; or at such other place as the said A, B. the elder, shall think proper to carry on the same, in such manner as the said trade or business has been hitherto carried on by the said A. B. the elder, or in such other manner as he shall from time to time direct, and that the same shall be so carried on in their joint names, for the space of three years from the above mention. ed time; and also for such further term as they the said A. B. the elder, and A. B. the younger, shall from time to time mutually agree upon, and until such notice shall be given for the discontinuance of the name of the said A. B. the younger, in the said firm as hereinafter mentioned. AND that the said A. B. the younger, shall and will use all due diligence, and employ his time, and work, and assist in

It required great caution in preparing this instrument, so as to give the son a semblance of partnership in the eyes of the world, and yet to consider him in fact as a covenant servant; and thereby prevent him from contracting debts, which would affect the partnership. For this purpose the words in italics, throughout the draft were introduced.

carrying on the said trade or business, conjointly with the said A. B. the elder, as if he the said A. B. the younger, were a copartner with him in the same; and shall and will solely employ himself to and for the interest, benefit, and advantage of his said father, in the carrying on the said trade or business, and that to the best and utmost of his skill and ability. AND that he the said A. B. the younger, shall not nor will during the said term, or such further term, as aforesaid, engage in or transact any other busin ss, or exercise or follow any other trade, calling, or profession, whatsoever. AND that he the said A. B. the younger, shall and will be just, true, and faithful, to and with the said A. B. the elder, in all and every the dealings and transactions of the said trade or business, and the buyings, s llings, receipts, payments, and accounts, thereof; and shall and will well and truly account for, and deliver over, and pay to the said A. B. the elder, his executors, administrators, or assigns, all such monies and effects as shall come to or pass through his hands, in carrying on or assisting to carry on the said trade or business. AND that he the said A. B. the younger, shall not nor will without the consent in writ ing of the said A. B. the elder, at any time or times during the said term, or such further term as aforesaid, ent r into any recognizance, judgment, bond, bill, or accept or indorse any promissory note, or bill of exchange, either in his own name or the name of the said A. B. the elder, or in that of the firm of "A. B. and son;" nor become bail or surety with or for any person or persons, whomsoever, for any sum or sums of money whatsoever; nor do, commit, or suffer to be done, any act, deed, matter, or thing, whatsoever, whereby or by reason, or means, or on account whereof the said A. B. the elder, can or may possibly or eventually be injured or damnified; or whereby the monies

or property employed, or to be employed in the said trade or business, or in carrying on the same, can or may be prejudicially affected, injured, lessened, or destroyed. AND the said A. B. the elder, in consideration of such services to be performed by the said A. B. the younger, as aforesaid, and of the covenants and agreements entered into, and made by him as hereinbefore mentioned, doth covenant and agree in manner aforesaid, that he the said A. B. the elder, shall and will during the said term of three years, from the day of next, and also during such further term as aforesaid, well and truly pay, or cause to be paid unto the said A. B. the younger, the annual sum of of lawful money, of Great Britain, free and clear of and from all deductions or abatements whatsoever, by four equal quarterly payments, on the

day of day

in every

-day of

year, the first payment thereof to begin and be made on the next ensuing, the day of the date of these presents, as and for a remuneration allowance salary stipend, and complete satisfaction for all the care, trouble, pains, skill, time, labour, and attention of the said A. B. the younger, in and about the aforesaid trade, and business, and the managing and carrying on the same for his said father, as aforesaid; and in lieu and satisfaction of all share or shares in the said trade or business, or the gains, profits, and increase thereof, which the said A. B. the younger, might otherwise have, or claim in, or to the same, by reason of his name being used therein, or in the firm in which such trade or business is to be carried on, as aforesaid :—it being expressly understood, covenantcd, declared, and agreed, by and between both the said parties hereto, that the said A. B. the younger, is not to have any