These terms may include a purchase and sale agreement detailing the valuation process or require any partner to maintain a life insurance policy that designates the other partners as beneficiaries. The only downside to a partnership agreement is that you may have a language that is unclear or incomplete. A TINKERing partnership agreement may not formulate the wording correctly and a poorly drafted treaty is worse than none. Partnership agreements define the initial contribution and future contributions expected by partners. The document also describes how business decisions are made, how partnership percentages are set, how the operation is managed and much more. . . .