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...