Partnership Deed (Sections 10-13) is agreement governing partnership relations. Contents typically include: Partner names, capital contributions, profit/loss sharing ratios, partner duties, partner rights, remuneration, loan provisions, dispute resolution, and dissolution procedures. Importance: Deed provides evidence of partnership terms; absence creates default statutory provisions. Statutory defaults (if no deed): Equal profit sharing, no partner salary (except managing partner), equal capital contribution rights. Amendment: Deed can be amended by mutual consent of all partners. Registration: Partnership optional registration; unregistered partnerships limited in suing third parties. Case law: Palaniappa v. Chinnakrishnan establishes deed importance for partnership terms. For accountants, partnership deed examination essential for understanding profit distribution, liability allocation, and partner entitlements. Understanding deed critical for tax computation (each partner's share) and financial reporting. Exam tip: Identify relevant deed provisions; apply statutory defaults if deed absent; assess amendment validity.