Articles of Co-partnership for 14 years.

For the purpose of selling goods relating to the silk and stuff trades between Thomas Morris of Coventry, silk and stuff merchant, John Ratcliff of Coventry, silk and stuff merchant and James Smith of Coventry, silkman. (1) The partnership is to commence from 16 September 1786 £3,000 capital to be raised equally by each member to be used for the profit and loss account (2) All profits shall be shared equally and trading to be in the names of the above parties. (3) No other stock to be used and all profits to be expended in the joint trade. (4) No private without agreement of both parties. (5) No advantage of seniorship to be obtained from the co-partnership. (6) All costs, losses etc., to be met from the joint stock. (7) All parties to have access to accounts. (8) No debts to be discharged or loans negotiated without the consent of the other parties and no private debts to be paid from stock. (9) None of the parties to enter bail or surety in respect of independent actions. (10) No party shall dismiss a servant. (11) All disputes between parties to be settled by arbitration. (12) £100 may be removed from the stock to pay expenses in respect of business incurred by the partners. (13) Interest rate of 5%. (14) Six months notice to be given prior to the ending of the partnership. (15) Thomas Morris is entitled to take £500 out of stock for his use. (16) Accounts to be inspected from 1st September to 31st October annually, discrepancies of £20 and above to be taken into account. (16) The partnership is to cease within a month of the death of one of the parties.

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