What sort of information should a partnership contract contain?

I’m thinking of taking on a partner and am not sure what information should be included in the partnership contract. Please can you advise me?

You need to include the following:

• The identity of the partners
• The purpose and business of the partnership
• The percentage interests which they respectively hold in the partnership (ie profit-sharing arrangements)
• The contributions made and to be made by the partners to the partnership fund
• The regulation of drawing of salaries/profits
• The circumstances under which the partnership may be dissolved
• All other rights, obligations and expectations between the partners.