This lesson deals with the dissociation of partners under the Revised Uniform Partnership Act (RUPA). It discusses the events that result in dissociation under Section 601 of the RUPA, whether dissociation is wrongful or not, and touches on the consequences of wrongful dissociation.
This is the first of three CALI lessons dealing with dissociation and dissolution under the RUPA. The second lesson in the series discusses the causes of partnership dissolution and the Article 7 buyout right for dissociated partners when the partnership is not dissolved. The second lesson also covers liability issues that arise after the dissociation of a partner. The third lesson in the series discusses the consequences of dissolution--the winding up process and the payment of partner accounts.
If you intend to complete all three lessons, it would make sense to complete this lesson first.
On completion of the lesson, the student will be able to:
1. Explain what it means for a partner to dissociate from a partnership.
2. Identify some of the events that result in the dissociation of a partner.
3. Discuss the concept of wrongful dissociation, when a dissociation may be wrongful and the consequences.