n Transactions of the Centre for Business Law - The ways in which a partnership is dissolved trough its assets. Chapter 34

Volume 2006, Issue 40
  • ISSN :



Secondly, a partnership is dissolved when the nature of the assets () constituting the basis of the partnership is changed e.g. where it is withdrawn from private ownership () or where the assets cease to exist because nobody can be a partner in a partnership non-existing property or property incapable of private ownership (). This is said about legacies, fideicommissa and usufructs which are completely or partially destroyed in this way (). But a partnership is only dissolved by the total destruction of the property which constitutes the basis thereof and not otherwise; therefore if the cow is killed the partnership will continue to exist as far as the calf is concerned (), and if the partnership has been entered into for a period of ten years it is nevertheless dissolved, if the capital constituting the basis of this partnership, is lost () and the partnership cannot be saved by pouring in additional funds ().

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