36Dissolution by expiration or notice

36 Dissolution by expiration or notice

Subject to any agreement between the partners a partnership is dissolved—

(a) if entered into for a fixed term by the expiration of that term;

(b) if entered into for a single adventure or undertaking by the termination of that adventure or undertaking;

(c) if entered into for an undefined time by any partner giving notice to the other or others of his intention to dissolve the partnership.

In the last-mentioned case the partnership is dissolved as from the date mentioned in the notice as the date of dissolution or if no date is so mentioned as from the date of the communication of the notice.

No. 3745 s. 37.