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Write 6 pages thesis on the topic company law partnership. In certain circumstances partnerships must be dissolved under the Partnership Act 1890: once a partnership contract is performed - eg it was

Write 6 pages thesis on the topic company law partnership. In certain circumstances partnerships must be dissolved under the Partnership Act 1890: once a partnership contract is performed - eg it was for a fixed term or for a specific purpose. the death or bankruptcy of a partner. a partner assigns his share to a creditor to satisfy a private debt. any event which makes it unlawful for the firm to continue its business or to have the status of a partnership (s34) (Macintyre, 2005, 464).

Under s35 a partner may seek for dissolution on the basis of one of the following five grounds: permanent disability to perform the partnership contract. conduct prejudicial to the carrying on of the firm. wilful or persistent breach of the agreement which makes it untenable for the other partners to continue the agreement. the firm is making a loss and there is no chance of its finances being turned around. and/or that the Court considers it to be 'just and equitable' to dissolve the firm. Under the Mental Health Act 1983 the mental incapacity of a partner can also lead to the dissolution of a partnership. (s34) (Macintyre, 2005, 465).

The partners retain the ability to bind the firm following a dissolution to the extent of completing unfinished transactions and all matters incidental to the winding up of the firm (s38 Partnership Act 1890).

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