Introduction to Dissociation and Dissolution Read carefully pages 725-726 and read the statutory provisions cited Read carefully pages 725-726 and read the statutory provisions cited Dissolution -- UPA sec 29 Dissolution -- UPA sec 29 UPA sec 38(1) – sets stage for termination of business and recognizes it as a default rule where partners can agree otherwise both pre- and post- dissolution UPA sec 38(1) – sets stage for termination of business and recognizes it as a default rule where partners can agree otherwise both pre- and post- dissolution UPA 41 & 42 – dealing with rights and liabilities when business is continued UPA 41 & 42 – dealing with rights and liabilities when business is continued Dissociation and Dissolution under RUPA articles 6, 7 and 8 Dissociation and Dissolution under RUPA articles 6, 7 and 8 RUPA introduces concept of dissociation; some dissociations automatically become dissolutions and some dissociations do not; understand triggering events in Art 6, standards for buyouts (default rules) in Art 7 and process of dissolution and winding up in Art 8 RUPA introduces concept of dissociation; some dissociations automatically become dissolutions and some dissociations do not; understand triggering events in Art 6, standards for buyouts (default rules) in Art 7 and process of dissolution and winding up in Art 8 Liquidation Rights under UPA 38(1) and RUPA 807(b) Liquidation Rights under UPA 38(1) and RUPA 807(b)
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