Graw, Stephen (2025) Dissolution. In: Mason, Edward S., (ed.) Halsbury's Laws of Australia. Title - 305 - Partnerships and Joint Ventures . LexisNexis Legal & Professional, Sydney, NSW, Australia.

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Abstract

[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:	89306
Item Type:	Book Chapter (Later Edition)
ISBN:	0409304360
Copyright Information:	© LexisNexis Legal & Professional
Date Deposited:	28 Oct 2025 23:07
FoR Codes:	48 LAW AND LEGAL STUDIES > 4801 Commercial law > 480103 Corporations and associations law @ 100%
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