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In today's video, the focus is on the dissolution of partnerships, which can become uncomfortable if conflicts arise. The video outlines five ways a partnership can be dissolved. Firstly, dissolution can occur automatically due to a partner's death or bankruptcy. Additionally, under the Partnership Act of 1890, specifically sections 26 and 30, any partner can dissolve the partnership by providing written notice if no express or implied agreement exists. This means that without a written partnership agreement, a simple notice from any partner suffices to terminate the partnership. The discussion emphasizes recognizing when a partnership has reached its natural end and how to navigate the dissolution process.
