Notice Of Dissolution Of Partnership (Debtors And Creditors) {BUS-102}

NOTICE OF DISSOLUTION OF PARTNERSHIP THIS DEED OF DISSOLUTION Is made at this day between (insert name) residing at hereinafter referred to as 'the Party of the First Part' and (insert name) residing at hereinafter referred to as 'the Party for the Second Part' and (insert name) residing at hereinafter referred to as 'the Party of the Third Part,' WHEREAS the Parties hereto have been carrying on business of in partner- ship in the Firm name of (insert name) on the terms and conditions recorded in the Deed of Partnership dated entered into by and between the parties hereto. since the day of AND WHEREAS as certain differences have arisen between the parties hereto (or as the parties do not desire to continue the said partnership for diverse reasons the parties) have agreed to dissolve the said partnership as from the day of on the terms herein recorded. AND WHEREAS the assets of the partners consist of (i) the land and premises purchased and belonging to the Party of the First Part and brought in by the Party of the First Part as his contribution to the capital of the Firm (ii) the lands and premises described In the Second and Third Schedules hereto purchased or otherwise acquired by the Firm in the course of Its business. (iii) and the goodwill, the stock-in-trade, furniture and other articles and things and bank balances and outstandings. AND WHEREAS accounts of the partnership business have been made upto the date of dissolution and the total value of the assets have been ascertained to be Rs. including Bank balances, and outstanding debts and excluding there from the debts and liabilities of the Firm. AND WHEREAS each partner is entitled to an equal share in the assets and profits of the firm, under the said Deed of Partnership. AND WHEREAS it is agreed that the property described In the First Schedule will be returned back to the Party of the First Part in lieu of his share In the said assets, the property described In the Second Schedule will be assigned to the Party of the Second. American LegalNet, Inc. © www.FormsWorkFlow.com