Dissolution

Question 1

Dissolution is..

Answer 1

a term of art

Question 2

3 braod types of dissolution

Answer 2

dissolution withou breach, dissoluton with breach, by court order.

Question 3

Dissolution without breach

Answer 3

when vneture ends or at will partner departs

Question 4

diss with breach

Answer 4

violatetes pship agreement, look to agrement, if you do this only value of your interest in assets, not goodwil. others can carry on.

Question 5

wrapping up

Answer 5

sell assets, pay credits- some parnters may want to keep on, do agreeemnt

Question 6

FOrmula for buyout

Answer 6

cap acct + avg of 3 prior years actually paid to partner- distributions t P