§ 60 Dissolution Defined
§ 61 Partnership Not Terminated by Dissolution
§ 62 Causes of Dissolution
§ 63 Dissolution by Decree of Court
§ 64 General Effect of Dissolution On Authority of Partner
§ 65 Right of Partner to Contribution From Copartners After Dissolution
§ 66 Power of Partner to Bind Partnership to Third Persons After Dissolution
§ 67 Effect of Dissolution On Partner’s Existing Liability
§ 68 Right to Wind Up
§ 69 Rights of Partners to Application of Partnership Property
§ 70 Rights Where Partnership Is Dissolved for Fraud, or Misrepresentation
§ 71 Rules for Distribution
§ 71-A Payment of Wages by Receivers
§ 72 Liability of Persons Continuing the Business in Certain Cases
§ 73 Rights of Retiring or Estate of Deceased Partner When the Business Is Continued
§ 74 Accrual of Actions
§ 75 Continuance of Partnership Business During Action for Accounting

Terms Used In New York Laws > Partnership > Article 6 - Dissolution and Winding Up.

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fraud: Intentional deception resulting in injury to another.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.