Graw, Stephen (2018) Dissolution. In: Sue, Shannon J., (ed.) Partnerships and Joint Ventures. Halsbury's Laws of Australia . LexisNexis Butterworths, Sydney, NSW, Australia, pp. 556321-556366.

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[Extract] Dissolution by notice: Subject to any agreement between the partners, a partnership for an undefined term1may be dissolved by any partner giving notice to the other partners of his or her intention to dissolve the partnership.2 Similar provisions apply to retirement from a partnership that is not for a fixed term.3 Such partnerships can also be terminated by mutual agreement, the agreement being a variation of their prior agreement regarding the undefined duration of their partnership.4 The retirement of a partner, whether mutually agreed or unilaterally effective, dissolves the partnership.5There is no duty on a partner to act reasonably in deciding whether to serve a dissolution notice but the power to determine the partnership by notice must be exercised in good faith and not for an improper purpose or to derive an undue advantage from the state of the firm.

Item ID: 53289
Item Type: Book Chapter (Later Edition)
ISBN: 978-0-409-30467-1
Keywords: dissolution of partnership; or, winding up; or, expulsion of partner; or, death; or, bankruptcy; or, dissolution by the court; or, return of premiums; or, notice of dissolution; or,
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Date Deposited: 24 Jul 2018 04:09
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180109 Corporations and Associations Law @ 100%
SEO Codes: 94 LAW, POLITICS AND COMMUNITY SERVICES > 9499 Other Law, Politics and Community Services > 949999 Law, Politics and Community Services not elsewhere classified @ 100%
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