Assertion: partnership's partner | /r/CapableOf | leave the partnership
Facets:
value: at any time
type: TEMPORAL
value: to pursue other interests
type: PURPOSE
value: voluntarily
type: MANNER
Source sentences:
text: One good example of how a partnership agreement is important involves the situation when a partner leaves the partnership.
text: General partnerships typically dissolve when one partner dies, becomes disabled, or exits the partnership.
text: In addition to the rule stating that when a partner leaves a partnership, the remaining partners have 90 days to determine if the partnership should continue or dissolve, the Uniform Partnership Act includes the following features:
text: limited life of a partnership -- if one partner leaves the partnership can end
text: For example, what if one partner voluntarily or involuntarily leaves the partnership?
text: A buy-sell/buyout agreement helps partners decide and plan for what will happen when one partner retires, dies, becomes disabled, or leaves the partnership to pursue other interests.
text: The UPA allows for a partnership to agree to continue within 90 days after a single partner leaves the partnership.
text: The “at-will” partnership status is the default, meaning that a partner can leave the partnership at any time if there is no specific language to prevent this action.﻿﻿
text: Dissociation: When a partner leaves the partnership
text: -Personal life may be interrupted if a partner is unable to leave the partnership
text: Partners may have to bear the cost of assessing the value of a partnership’s assets in the event that a partner joins or leaves the partnership.
text: When partners exit the partnership, or new partners are added, your partnership may need to obtain a new EIN as it is considered a "new" partnership for tax purposes.
text: When partners exit the partnership, or new partners are added, your partnership may need to obtain a new EIN as it is considered a "new" partnership for tax purposes.
text: If a partner leaves a partnership, then the remaining partners acquire separate CGT assets to the extent that the remaining partners acquire a share of the departing partner's interest in a partnership asset.