Ahmed for Mujeeb Leasing for several years. Muscat Leasing is a company that leases high-tech
medical equipment to hospitals. Ahmed for Mujeeb have decided that, with their financial
expertise, they might start their own company to provide consulting services to individuals
interested in leasing equipment. One form of organization they are considering is a partnership. If
they start a partnership, each individual plan to contribute OMR50,000 in cash. In addition, Ahmed
has a used computer that originally cost OMR370, which he intends to invest in the partnership.
The computer has a present market value of OMR150.Although both Ahmed for Mujeeb are
financial wizards, they do not know a great deal about how a partnership operates. As a result, they
have come to you for advice.
What type of document is needed for a partnership, and what should this document contain?