Advice on partnership contract
I Person 'A" is planning to do partnership for the period of 5 years with Person B with following terms and conditions:
(1) Person "A" will give 5 lakh to Person "B" to invest in XYZ business for the period of 5 years.
(2) Person A will give fixed profit of 15000 PM for 1st year for the 1st year. This 15000 will be incresed to 17000 in 2nd year, 19000 in 3rd year , 21000 in 4th year and 23000 in 5th year.
Apart from that, whatever profit made will be taken by Person A.
(3) If Person "B" wanted to break this partnership anytime within 5 years, he has to pay back 10 lakh to person "A".
(4) If Person "A" wanted to break this partnership anytime within 5 years, he will not get anything back from person B.
(5) After the end of 5 years, Person "B" will give back person "A" 4 lakh.
(6) After the end of 5 years, revised contract with new terms and conditons will be made based on mutual conscent of Person A and B.
I will write these terms and conditions on 50Rs stamp paper and will also get it registered.
Now my Question is - Do these terms and conditions suffice ?
In case of any disputes- would this registered stamp paper is admissible in court ?