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In today's tutorial, the focus is on the dissolution of partnerships, highlighting that while partnerships can be advantageous, they may become uncomfortable when problems arise. If a partner recognizes that the partnership has reached its conclusion, understanding the dissolution process is crucial. There are five methods for dissolving a partnership. The first method occurs automatically due to the death or bankruptcy of a partner. The second method stems from the Partnership Act of 1890, specifically sections 26 and 30, which allows any partner to dissolve the partnership by providing written notice, especially in the absence of an express or implied partnership agreement.
