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Partnership Dissolution Agreement - DOC - DOC by PrestigeLegalDoc

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Partnership Dissolution Agreement is an agreement between partners of a partnership whereby they have agreed to the dissolution of the partnership. This agreement sets out the procedure of liquidation, how debts and liabilities of the partnership are assumed and how the proceeds from liquidation are divided amongst the partners.

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THIS AGREEMENT made as of ______________[date] between _____________________________, of ________________("ABC"), ______________of ___________________________("XYZ"), and ________________________of ___________________(“PQR”)

WHEREAS the parties hereto (the "Partners") entered into a partnership with one another (the "Partnership") pursuant to a written partnership agreement dated ____________________ to carry on the business ___________________with principal offices at __________________________ under the name _________________; WHEREAS this Agreement is entered into by Partners to provide for the dissolution and orderly winding up of the Partnership business.

NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration of the mutual covenants and agreements herein contained and subject to the terms and conditions hereafter set out, the parties hereto agree as follows: 1. The Partners hereby agree the Partnership to be dissolved, effective _____________(the "Dissolution Date") and the Partners agree that the Partnership be wound up and liquidated as of and following the Dissolution Date. 2. ABC shall be appointed as the
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