Settlement of Accounts
As previously noted, partnership dissolution causes changes.
the partners' current relationship, but the
The company may carry on with business as usual. The
partnership may be dissolved in any of the following situations:
in the subsequent ways:
(1) Modification of the current profit-sharing ratio among
partners;
(2) The acceptance of a new companion
(3) A partner's retirement;
(4) A partner's passing;
(5) One partner's bankruptcy;
(6) The venture's completion, assuming a partnership is formed for it; and
(7) If the partnership is for a set period of time, that period's expiration
through time;
the partners' current relationship, but the
The company may carry on with business as usual. The
partnership may be dissolved in any of the following situations:
in the subsequent ways:
(1) Modification of the current profit-sharing ratio among
partners;
(2) The acceptance of a new companion
(3) A partner's retirement;
(4) A partner's passing;
(5) One partner's bankruptcy;
(6) The venture's completion, assuming a partnership is formed for it; and
(7) If the partnership is for a set period of time, that period's expiration
through time;
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