dissolution of partnership
- dissolution of partnership
-
That change in the partnership relation which ultimately culminates in its termination. The change of the relation of partners caused by any partner's ceasing to be associated in the carrying on of the business. 48 Am J1st Partn § 233. Dissolution is not in itself a termination of the partnership or of all the rights and powers of partners, for many of these persist during the winding-up process which follows dissolution. Under statutory provision distinguishing between dissolution of a partnership and winding-up the business, the conduct of a partner inconsistent with the continuance of a partnership results in the dissolution of the partnership in spite of the fact that liquidation is not completed or some appearances of the partnership continue. Fooshe v Sunshine, 96 Cal App 2d 336, 215 P2d 66, 16 ALR2d 1142.
Ballentine's law dictionary.
Anderson, W.S..
1998.
Look at other dictionaries:
dissolution — dis·so·lu·tion /ˌdi sə lü shən/ n: the act or process of ending: as a: the termination of an organized body (as a court) b: the ending of a partnership relationship caused by the withdrawal of one of the partners from the relationship c: the… … Law dictionary
partnership — part·ner·ship n: an association of two or more persons or entities that conduct a business for profit as co owners see also uniform partnership act in the important laws section compare corporation, joint venture, sole pro … Law dictionary
PARTNERSHIP — Formation The earliest form of commercial partnership in Jewish law was partnership in property, or joint ownership. Craftsmen or tradesmen who wished to form a partnership were required to place money in a common bag and lift it or execute some… … Encyclopedia of Judaism
Partnership — • An unincorporated association of two or more persons, known as partners, having for its object the carrying on in common by the partners of some predetermined occupation for shared profit Catholic Encyclopedia. Kevin Knight. 2006. Partnership… … Catholic encyclopedia
Dissolution — Dis so*lu tion, n. [OE. dissolucioun dissoluteness, F. dissolution, fr. L. dissolutio, fr. dissolvere. See {Dissolve}.] 1. The act of dissolving, sundering, or separating into component parts; separation. [1913 Webster] Dissolutions of ancient… … The Collaborative International Dictionary of English
dissolution — dis‧so‧lu‧tion [ˌdɪsəˈluːʆn] noun [uncountable] when a company or partnership comes to an end officially: • Failure to agree terms could result in the outgoing partner seeking a formal dissolution of the firm on peremptory notice. * * *… … Financial and business terms
dissolution — Act or process of dissolving; termination; winding up. In this sense it is frequently used in the phrase dissolution of a partnership. See partnership, below, this topic. Contracts. The dissolution of a contract is the cancellation or abrogation… … Black's law dictionary
dissolution — Act or process of dissolving; termination; winding up. In this sense it is frequently used in the phrase dissolution of a partnership. See partnership, below, this topic. Contracts. The dissolution of a contract is the cancellation or abrogation… … Black's law dictionary
partnership agreement — articles of partnership An agreement made between the partners of a partnership. In the absence of either an express or an implied agreement the provisions of the Partnership Act (1890) apply. These provisions are also applicable if an agreement… … Accounting dictionary
partnership agreement — articles of partnership An agreement made between the partners of a partnership In the absence of either an express or an implied agreement the provisions of the Partnership Act (1890) apply. These provisions are also applicable if an agreement… … Big dictionary of business and management
