Partnership Dissolution Lawyers
There can be many reasons that lead to the dissolution of a partnership. Making sure your interests are protected and secured requires a skilled business attorney.
Arizona’s Best Partnership Dissolution Lawyers
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In determining whether to dissolve a partnership it is best to review the partnership agreement first to see what provisions may be helpful in the process. If there is not a partnership agreement there are other options, which may include judicial involvement if necessary. In order to ensure that a partnership is successfully dissolved by complying with the law it is best to speak with a competent Arizona business law attorney. An attorney will be able to provide advice on what is best for your particular situation. Call today!
Leading Company Dissolution Attorneys In Arizona
Professional LLC Dissolution Lawyers Near You
There are many aspects to be considered when a business partnership is dissolved. The dissolution may happen for a variety of reasons, but typically it involves a difference of opinions or actions between business partners. Partners may have the power, but not the right, to dissolve their partnership, depending on the terms of their contract. While the partnership may be dissolved, each could still be held liable for the breach of business contract. Because of the extensive, complex detail surrounding partnership dissolution, having a knowledgeable lawyer on your side is a critical aspect of ensuring the dissolution is fully in line with the law.
The partnership dissolution attorneys at Denton Peterson Dunn are fully prepared to fight for your rights as a business partner, and understand each stage of the process as it unfolds. Set up a consultation today to learn more!
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When a dissolution occurs, having a competent business law attorney on your side will make all the difference in the results. Denton Peterson Dunn is qualified and ready to be there with you every step of the way. We have many years of experience in defending and protecting your rights during a partnership dissolution, and will do everything we can to make sure your business continues to be successful.
Outstanding Work!
Scott T. – Gilbert
“Denton Peterson Dunn has represented our various companies in all kinds of different areas of business law, contract law, litigation, and so forth. Highly recommended!”
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Bob K. – Phoenix
“Fantastic law firm. Denton Peterson Dunn's legal knowledge and attention to detail really sets them apart as a legal team.”
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What Does Dissolving a Partnership Mean?
Similar to a spouse who may decide to file for divorce because of differences of opinion or actions by the other spouse, partners in a partnership may seek to dissolve, or terminate, their partnership. Indeed, these scenarios are often referred to as “business divorces” in the legal world. The law allows for the dissolution of a partnership under certain conditions. Perhaps Chief Justice Hamblen stated it best in 1955 when he said, “there always exists the power, as opposed to the right, of dissolution.”1 Partners always have the power, but may not necessarily have the right to dissolve their partnership if they are bound by a contract. This means that partners may dissolve a partnership, but may still be held liable for the breach.
First, it is important to know that dissolving a partnership is not the same thing as going out of business. Under the Uniform Partnership Act § 29 a dissolution is simply “the change in relationship of the partners caused by any partner ceasing to be associated in the carrying on the firm’s business.” The process that is commonly called the “winding up” of the partnership occurs after dissolution.
Before even entering into partnership it is best to prepare for what might occur in the event of a dissolution. One thing that should be done when starting a partnership is to draft a good partnership agreement that clearly spells out what is going to happen in the event of a dissolution. When drafting a partnership agreement, it is best to have a buy-sell agreement in the partnership contract. A buy-sell agreement is helpful because it provides a good method whereby one partner can buy the other partner out of the business if they want to split up. A well drafted partnership agreement may alleviate problems down the road.
Dissolving a Partnership under the Uniform Partnership Act
The Uniform Partnership Act (UPA) is an act that governs the operation of partnerships, including partnership dissolutions. The UPA was established in 1914 and many later revisions have occurred in the 1990’s (referred to as the RUPA). Many state laws governing partnership dissolution are based on the UPA.
Section 31 of the UPA gives several reasons for permitting a partnership dissolution. These include additional reasons not stated in Arizona law, such as the bankruptcy of any partner or of the partnership itself, the death of any partner, or any event that makes it unlawful for the business of the partnership to be carried on.
In addition, Section 32 of the UPA, provides courts great latitude and power to decide the dissolution of a partnership.
Preeminent Arizona Corporate Dissolution Lawyers
Contact An Experienced Corporate Dissolution Lawyer Today
Denton Peterson Dunn is well-known throughout Arizona for our unmatched service and commitment to excellence. We proudly carry five-star ratings across the board on Google and Yelp, and have been honored to receive the AVVO Preeminent Rating for our demonstration of professional excellence. If you are facing a partnership dissolution, whatever the reason may be, and need competent legal guidance, consult with an attorney at Denton Peterson Dunn today.
Five Star Law Firm For Partnership Dissolution in Arizona
When you are going through a partnership dissolution, having a skilled lawyer on your side is critical. Denton Peterson Dunn is a team of five-star business attorneys with the experience and knowledge necessary to ensure your partnership dissolves smoothly and legally.
Arizona’s Leading Sole Proprietorship Dissolution Lawyers Nearby
Denton Peterson Dunn is a team of capable lawyers with years of experience and skill that drive everything we do. If you are dealing with sole proprietorship issues, let our attorneys offer professional guidance every step of the way.
Creating An LLC Dissolution Agreement In Arizona
It is important to have all the correct paperwork in order for a partnership dissolution and contract breach to occur successfully. Let our business attorneys at Denton Peterson Dunn, P.C. draft and review your dissolution agreements.
Average Cost Of Partnership Dissolution In Arizona
Our commitment at Denton Peterson Dunn is to provide exceptional quality legal services at affordable rates. Every business owner and partnership deserves to have a competent lawyer on their side for when issues or the subject of dissolution arise.
Carrying Out An AZ Partnership Dissolution Agreement
Let our reliable lawyers at Denton Peterson Dunn, P.C. walk you through every step of a partnership dissolution agreement. We carry intimate knowledge of business law and will ensure your dissolution is done thoroughly and smoothly.
S Corp Dissolution Legal Help
As a five-star business law firm, Denton Peterson Dunn proudly carries the AVVO Preeminent Rating and a solid history of successful legal services. When you need help with an S Corp dissolution, you can trust that we have your back.