Causation of Dissolution

  1. Law
  2. Georgia Code
  3. Corporations, Partnerships, and Associations
  4. Partnerships
  5. Causation of Dissolution

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  1. Dissolution is caused:
    1. By the termination of the definite term or particular undertaking specified in the agreement;
    2. By the express will or withdrawal of any partner;
    3. By the expulsion of any partner from the business in accordance with the terms of the agreement between the partners;
    4. By any event which makes it unlawful for the business of the partnership to be carried on or for the members to carry it on in partnership;
    5. By the death of any partner, unless there is a written agreement between the partners expressly providing otherwise;
    6. By decree of court under Code Section 14-8-32;
    7. In other circumstances as provided in the agreement between the partners.
  2. Unless otherwise provided in the partnership agreement, dissolution is not caused solely by admission of a new partner.
  3. Subject to contrary agreement of the partners, a dissolution is not in contravention of the partnership agreement if it is caused at any time by the express will of all of the partners who have not assigned their interests or suffered them to be charged for their separate debts.

(Code 1981, §14-8-31, enacted by Ga. L. 1984, p. 1439, § 1; Ga. L. 1985, p. 1436, § 2.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 59A Am. Jur. 2d, Partnership, § 507 et seq.

C.J.S.

- 68 C.J.S., Partnership, § 404 et seq.

ALR.

- Right of solvent partner to close firm business upon bankruptcy or insolvency of copartner, 29 A.L.R. 45.

Misconduct of or dissensions among partners or joint adventurers as ground for dissolution by court, 118 A.L.R. 1421.

Sale or transfer of interest by partner as dissolving partnership, 75 A.L.R.2d 1036.

Construction and application of expulsion provision in partnership agreement between attorneys, 72 A.L.R.3d 1226.

Construction and application of expulsion provision in medical partnership agreement, 87 A.L.R.3d 328.


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