Asked by Deonna Hershey-Kisses on May 14, 2024
Verified
Explain under what circumstances a partnership can come to an end.
Partnership End
The dissolution or termination of a partnership agreement, often involving the settlement of debts and distribution of assets among partners.
- Understand the formation and termination processes of partnerships.
- Explain the conditions under which a partnership may end and the consequences therein.
Verified Answer
CM
celine macielMay 17, 2024
Final Answer :
A partnership can usually end by notice, but it may be by the expiration of a specified time, or because the activity becomes illegal, or where one of the partners dies or becomes bankrupt or insane, or by court order.
Learning Objectives
- Understand the formation and termination processes of partnerships.
- Explain the conditions under which a partnership may end and the consequences therein.