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DISSOLUTION OF PARTNERSHIP AGREEMENT


WHEN TO USE THIS DOCUMENT

 This Agreement can be used to end or terminate (dissolve) a partnership agreement. The Agreement assumes that the partners had previously entered into a written agreement but it can also be used even if there was no previous written agreement.

 This Agreement assumes that one Partner - Partner A - will want to carry on the business so that Partner A will make a payment to the other partner, Partner B, for his/her “share” of the partnership.

 The Agreement contains also the usual clauses in an agreement like this and contains the relevant clauses to cover a partnership operating from leasehold premises where the Landlord has agreed to allow Partner A - who wants to carry on the business and to take over the lease.

 It also contains an anti-competition clause - so that upon receipt of his payment from Partner A - Partner B will not compete with the business which Partner A has purchased from Partner B.

 Unlike many template agreements this Agreement allows the Partners to also add on anything specific that they have agreed that will happen on dissolution.

THIS DOCUMENT CONTAINS THE FOLLOWING:

  • Formally ends the partnership.
  • Enables one partner a to carry on the business.
  • Deals with existing partnership bank account.
  • Deals with existing partnership assets and liabilities.
  • Deals with existing partnership premises which are subject to a lease.
  • Optional non-Competition – means that the other Partner cannot set up another similar business.

HOW TO USE THIS DOCUMENT

 This is a MS Word document and so is easy to use. The document uses green text so that you can customise your document to suit the circumstances in which it is used and blue text to provide extra guidance notes.
 

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File Type: Word File

File Size : 61.5 kbBuy Now

Price : £75.00