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In today's video, the focus is on the dissolution of a partnership, which can become uncomfortable if the partnership is failing. It highlights that recognizing when a partnership has run its course is crucial. The video outlines five ways a partnership can be dissolved. First, it can occur automatically through the death or bankruptcy of a partner. Second, under the Partnership Act of 1890, any partner can dissolve the partnership by providing written notice if there is no express or implied agreement in place. This means that, in the absence of a written partnership agreement, simply giving notice can initiate the dissolution process.
