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Dissolution and Winding Up of Partnerships

Dissolution and Winding Up of Partnerships

Learn about what happens when a partnership ends, in particular the dissociation of a partner, dissolution of the partnership, and the winding up process.

Transcript

Welcome back to our tutorial on partnerships! This clip will focus on dissolution and winding up or, more simply, the end of a partnership.

By the time we’re finished with this clip, you’ll understand how a partner may be dissociated from the partnership and how a partnership is dissolved and wound up. Specifically, we’ll look at how dissolution occurs, when the partners’ authority is terminated, and how assets are distributed. Let’s get started.

I. Dissociation

First, let’s talk about what...

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