36
In forceDissolution by expiration or notice
Part 2Partnerships generally
Division 4Dissolution of partnership
36 Dissolution by expiration or notice
(1) Subject to an agreement between the partners, a partnership is dissolved:
(a)
if entered into for a fixed term, by the expiration of the term;
(b) if entered into for a single venture or undertaking, by the termination of the venture or undertaking; or
(c) if entered into for an undefined time, by a partner giving notice to the other partner or partners of his or her intention to dissolve the partnership.
(2) In subsection (1)(c), the partnership is dissolved from the date mentioned in the notice as the date of dissolution or, if no date is mentioned, from the date notice is given.
This Act’s bill:Second reading speech
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