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LEARNING OBJECTIVES
- Understand the dissolution of general partnerships under the Uniform Partnership Act (UPA).
- Understand the dissociation and dissolution of general partnerships under the Revised Uniform Partnership Act (RUPA).
- Explain the winding up of partnerships under UPA and RUPA.
It is said that a partnership is like a marriage, and that extends to its ending too. It’s easier to get into a partnership than it is to get out of it because legal entanglements continue after a person is no longer a partner. The rules governing “getting out” of a partnership are different under the Revised Uniform Partnership Act (RUPA) than under the Uniform Partnership Act (UPA). We take up UPA first.
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