"Articles of Agreement of Partnership," a contract that forms a business partnership between Jonathan Dayton, Francis Childs, and Jonathan Hampton Lawrence. Elizabeth Town, New Jersey, 1796. No signatures, possibly a draft.

Authors

Jonathan Dayton
Francis Childs
Jonathan Hampton Lawrence

Files

Description

A form containing tenets of an agreement to form a business partnership, in mercantile transactions, between Jonathan Dayton, Francis Childs, and Jonathan Hampton Lawrence in Elizabeth Town (now Elizabeth), New Jersey. 1796.

Transcription

[recto] Articles of Agreement, Indented, made the Twenty eight day of April in the year of our Lord One thousand seven hundred and ninety six, Between Jonathan Dayton of Elizabeth Town State of New Jersey of the first part, Francis Childs of the same place of the Second part + Jonathan Hampton Lawrence of the same place of the third part._ First The said Jonathan Dayton, Francis Childs, and Jonathan Hampton Lawrence have joined, and by these present do join themselves to be Copartners together in trade as herein after mentioned, which said Copartnership is to commence on the first day of May next ensuing the date hereof and is to continue from thence for and during and unto the full end and Sum of Four Years from thence next ensuing + fully to be complete and ended._ And it is agreed between the said parties to these presents, and the said Copartners each for himself respectively, and for his own particular past and for his Executors + Administrators doth severally and not jointly Covenant promise and agree to and with the other partners his Executors and Administrators by these presents in manner and form following (that is to say) that the business contemplated for the said partnership is Mercantile transactions generally, and such in particular as shall from time to time be approved of the said partners. That the said Business shall be conducted under the Person of Lawrence Dayton + Co. That the business of the said Partnership is intended to be under the immediate superintendance of said Jonathan Hampton Lawrence, who is hereby authorised to make contracts for and in behalf of the said Company, to sign, and [p2] authorise the signature of the said Person, and in all cases to act as the managing partner in the business. That the said Jonathan Dayton and Francis Childs shall make up the Stock of the Company (including what may be convenient for Jonathan H Lawrence to advance) to the amount of Twenty Thousand Dollars by the first day of January next, to be equal, proportioned between them, such part of which to be paid before as may be found convenient, and be requisite in the business. That an Interest account shall be opened with each partner, wherein he shall have Credit for the Interest on all Sums put in to the Stock of the Company from the day paid in, at the rate of Seven /Cents/ Annum, and be charged with Interest at the same rate, on all sums pad out tohim which account shall be balanced once in every year; and the Amount of the said balance of Interest paid out of the general Interests of the Company before any Dividend takes place. That all expences accruing in the business shall be paid out of the general Interests of the Company, in which shall be included an equitable compensation to the said Jonathan H Lawrence for his attention to the business._ That each partner shall be entitled to one third of the clear profits of the business, and shall be subject to, and pay one third of all losses which may be sustained thereby._ That the said Jonathan H. Lawrence shall keep a regular set of double entry Books, and every subsidiary Book which may be necessary to explain every transaction of the said Company, which shall be all times open to the Inspection [p3] of each partner._ That the Stock of the Stock of the Company shall be accountable to each partner for the Amount of his Credit in the Books before any Dividend of profits takes places at the close of business._ In Witness whereof the parties to these presents have hereunto interchangeably set their hands and Seals._ Signed Sealed + Delivered} In the presence of us} [no signatures present] [annotations on docket]

Creation Date

4-28-1796

City

Elizabeth

County

Union

State/Province

New Jersey

Country

United States

Creator Life Dates

1760-1824

Keywords

28 April 1796, Jonathan Dayton, Elizabeth Town, New Jersey, Francis Childs, Jonathan Hampton Lawrence, Articles of Agreement, Mercantile, Contracts, Business, Trade, Ownership

Resource Identifier

080601-13

Date Digital

2-18-2014

Document Type

Manuscript

Disciplines

Business Administration, Management, and Operations | History | Legal

Publisher

Wofford College

Format (medium)

manuscript

Format (IMT)

PDF

Language

En-us

Digitization Specifications

800ppi 24-bit depth color; Scanned with an Epson 15000 Photo scanner with Epson Scan software; Archival master is a TIFF; TIFFs converted to PDF with Adobe Acrobat XI Pro.

Source

The original from which this digital representation is taken is housed in The Littlejohn Collection at Wofford College, located in the Sandor Teszler Library.

Recommended Citation

Dayton, Jonathan; Childs, Francis; and Lawrence, Jonathan Hampton, ""Articles of Agreement of Partnership," a contract that forms a business partnership between Jonathan Dayton, Francis Childs, and Jonathan Hampton Lawrence. Elizabeth Town, New Jersey, 1796. No signatures, possibly a draft." (1796). Broadus R. Littlejohn, Jr. Manuscript and Ephemera Collection. 143.
https://digitalcommons.wofford.edu/littlejohnmss/143

Creative Commons License

This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.