Partnership Dissolution Agreement Partnership Dissolution Agreement Agreement made on the date between

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Partnership Dissolution Agreement Partnership Dissolution Agreement Agreement made on the date between Powered By Docstoc
					                          Partnership Dissolution Agreement

        Agreement made on the (date), between (Name of Partner A) of (street address,
city, county, state, zip code), referred to herein as Partner A, and (Name of Partner B),
of (street address, city, county, state, zip code), referred to herein as Partner B.
       Whereas, the parties have carried on as partners a Law Practice at (street
address, city, county, state, zip code), in accordance with a Partnership Agreement
dated (date); and

       Whereas, a true and correct copy of said Partnership Agreement is attached
hereto as Exhibit A and made a part hereof by reference; and

      Whereas, Partner B has agreed to permit Partner A to withdraw from the
Partnership with Partner B to continue the Partnership business.

     Now, therefore, for and in consideration of the mutual covenants contained in this
Agreement, and other good and valuable consideration, the parties agree as follows:
1.    Dissolution. The Partnership which heretofore existed between the parties is
hereby dissolved, effective as of the close of business on (date).

2.     Transfer by Partner A. In consideration for Partner B's execution of this
Agreement, effective as of the date of dissolution, Partner A hereby assigns and
transfers to Partner B all his right, title, and interest in and to all Partnership assets,
including bank balances, accounts receivable, claims, furniture, fixtures, supplies,
equipment, library, correspondence, contracts, records, research material, leases, trade
name, and books of account.

3.     Assumption of Liabilities. Effective as of the date of dissolution and except as
hereinafter set forth, Partner B hereby assumes all the debts and obligations of the
Partnership and shall indemnify and hold Partner A harmless from all claims in respect
of the Partnership business.

4.     Accounting. The books of the Partnership shall be closed as of the date of
dissolution and an account taken of all Partnership affairs. The account shall be
prepared by (name of accounting firm), the accountants for the Partnership, in
accordance with the regular accounting practices of the Partnership, and when certified
to the parties, such account shall be conclusive and binding upon them for all purposes.

5.     Acco
Description: A partner has the power to withdraw from the partnership at any time. However, if the withdrawal violates the partnership agreement, the withdrawing partner becomes liable to the co-partners for any damages for breach of contract. If the partnership relationship is for no definite time, a partner may withdraw without liability at any time. A partnership may be dissolved by any of the following events: (i) expiration of the time stated in the agreement; (ii) expulsion of a partner by the other partners; (iii) withdrawal of a partner. If a partnership does not have a fixed duration, a partner may withdraw at any time and for any reason or no reason without liability to the partnership. If a partner wrongfully withdraws from a partnership, the partner is liable to the other partners for any damages caused by the withdrawal.
PARTNER William Glover
I received my B.B.A. from the University of Mississippi in 1973 and my J.D. from the University of Mississippi School of Law in 1976. I joined the firm of Wells Marble & Hurst in May 1976 as an Associate and became a Partner in 1979. While at Wells, I supervised all major real estate commercial loan transactions as well as major employment law cases. My practice also involved estate administration and general commercial law. I joined the faculty of Belhaven College, in Jackson, MS, in 1996 as Assistant Professor of Business Administration and College Attorney. While at Belhaven I taught Business Law and Business Ethics in the BBA and MBA programs; Judicial Process and Constitutional Law History for Political Science Department); and Sports Law for the Department of Sports Administration. I am now on the staff of US Legal Forms, Inc., and drafts forms, legal digests, and legal summaries. I am a LTC and was Staff Judge Advocate for the Mississippi State Guard from 2004-2008. I now serve as the Commanding Officer of the 220th MP BN at Camp McCain near Grenada, MS. I served on active duty during Hurricanes Dennis (July, 2005), Katrina (August, 2005) and Gustav in 2008. I played football at the University of Mississippi in 1969-1971 under Coach John Vaught. I am the author of the Sports Law Book (For Coaches and Administrators) and the Sports Law Handbook for Coaches and Administrators (with Legal Forms),