The following points serve as a general summary of the conditions for each general partnership agreement.  All prospective general partners are encouraged to read the partnership documents published on the Partnership Information page on this website.  

1. This will be a general partnership—simple and select.
2. The number of full shares offered will be defined in the respective Subscription Document for each general partnership.
3. Each share has a set amount and percentage of ownership that will defined in the Subscription Document for each general partnership.  A controlling interest will not be allowed.
4. Each general partnership begins on the date that a minimum number of shares (defined in the current Subscription Document) is achieved and concludes when the respective Mojo Runner(s) is sold, retired, or his/her/their racing career(s) has ended for any reason.
5. Only the horse(s) defined in the current Subscription Document are included in each general partnership–no other horses or assets managed by Mojo Racing Partners are involved in the respective general partnership.
6. Each horse will race under a standard racing lease in the name of Mojo Racing Partners with the racing colors chosen/designed by the Managing Partner.
7. There is no guaranteed return on investment or guarantee that the horse will be able to race (at all). Thoroughbred racing (in general) involves a high risk of illness and/or injury to the horse.
8. Unless described in the current Subscription Document, there shall be no refunds—this is for the protection of all general partners.
9. Unless described in the current Subscription Document, each general partner is required and responsible for obtaining his/her racing license if his/her number of shares is 5% or greater.
10. Out of pocket expenses will be described in the corresponding current Subscription Document.
11. The Managing Partner maintains the business of the general partnership without any interference from each general partner(s).
12. The Managing Partner maintains sole/exclusive authority to make all decisions required in the day-to-day management of the horse.
13. The Managing Partner maintains sole/exclusive authority to decide when and where the horse will be purchased, trained, entered to run, the race type, and if the horse is sold and/or retired.
14. In the event there are any unused funds (net of the cost to manage the horse and/or general partnership) at the conclusion of the general partnership, the funds shall be returned 100% pro rata to the general partners based on their respective share percentages.
15. The limit of liability to Mojo Racing Partners (the entity) shall be no greater than that of the general partners of each general partnership at the time of purchase, less any distributions received by the general partners.
16. Mojo Racing Partners (the entity) shall be held harmless and indemnified for any and all claims and/or litigation.
17. Mojo Racing Partners files an annual tax return for the entity, and shall provide the each general partner a K-1 on or before March 31st.
18. Mojo Racing Partners (the entity) supports two charities: The Permanently Disabled Jockeys’ Fund and Old Friends Equine Retirement.  A relatively small portion of the each general partner’s Capital Contribution is used to support these charities.
19. Each general partner is required to sign an agreement that says he/she has read, understands, and has had an opportunity to ask questions about Mojo Racing Partners Concept, Mission, Terms and Conditions, Subscription Agreement, and the current Subscription Document.
20. Should a situation occur not covered by the agreement, the Managing Partner maintains sole exclusive authority to settle disputes in a customary and reasonable manner.