If you know what works best for everyone, you can decide when it`s time to use a contract and when it`s normal to rely on an agreement. Oral agreements are based on the good faith of all parties and can be difficult to prove. A partnership consists of two or more individuals, groups, companies or groups. Each partner participates in the activity and is responsible for the corporate acts. Commercial debts and profits are transferred to the partners. In a complementary company, each partner is individually responsible for the shares and debts of the company. . . .