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Revision as of 13:33, 22 September 2010 by ::ffff:165:123:99:44 (talk) (Created page with '= Issues = # Was the dissolution of the partnership done in bad faith? # Do the terms of the partnership agreement constitute an agreement to stay a partnership for a term? = Di…')
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Issues

  1. Was the dissolution of the partnership done in bad faith?
  2. Do the terms of the partnership agreement constitute an agreement to stay a partnership for a term?

Discussion

  1. The court says that if there is wrongful dissolution - i.e. the dissolving partner acted in bad faith (in an attempt to dissolve the partnership and then start another one, thereby excluding the other partners) - then there would be damages.
  2. The partnership agreement says that the company will stay together until the partnership becomes profitable. The court says that this agreement does not constitute a partnership term; every partnership has the hope of eventually becoming profitable.