Dissociation Flashcards
1
Q
Dissociation
A
The withdrawal of a partner from the partnership
2
Q
Power to dissociate
A
Partner has the power to dissociate at any time by stating their intent to do so
3
Q
Wrongful dissociation
A
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
