DISSOLUTION OF PARTNERSHIP

DISSOLUTION OF PARTNERSHIP

1. the simplest method to dissolve a partnership is by way of mutual agreement between the partner

   • CAN DISSOLVED BY:
     • by expiration or notice - section 34
       • a) if it is entered into a fixed term, the partnership ends at the expiration of that term
       • b) if it is entered into a single project, once the project completed, the partnership ends
       • c) if it is entered into a period that is not fixed, the partnership can be dissolve by any partner gives notice to another partner
     • by death or bankruptcy - section 35
       • when a partner dies or declared as a bankrupt, the partnership can be dissolve unless there is an agreement which states the opposite
         • LEE CHOO YAM HOLDINGS v KHOO YOKE WAH
     • by illegality of the partnership - section 36
       • partnership is dissolved if it makes it unlawful for the business of the firms to be carried on
     • dissolution by the court - section 37
       • court may order the dissolution:
         • insanity of partner - section 37(a)
         • permanent incapacity of a partner to perform his duties - section 37(b)
         • a conduct calculated to prejudicially affect the carrying on of the business - section 37(c)
           • CARMICHAEL v EVANS
         • willful and persistent breach of the partnership agreement - section 37(d)
         • carrying business at a loss - section 37(e)
         • it is just and equitable to do so - section 37(f)