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Flashcards in Dissociation Deck (3)
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1

Dissociation

The withdrawal of a partner from the partnership

2

Power to dissociate

Partner has the power to dissociate at any time by stating their intent to do so

3

Wrongful dissociation

Where partner chooses to dissociate, the action is wrongful if it is in breach of provision of partnership agreement. Partner becomes liable for damages caused by dissociation