Fill and Sign the Dissolution Partnership Form

Agreement for the Dissolution of PartnershipPage 1 of 2 Agreement for the Dissolution of Partnership This Dissolution Agreement is made this the day of , 20 , between of , (Street Address) and , (City, State, Zip Code) of , (hereinafter sometimes (Street Address, City, State, Zip Code) referred to as “Partners”) are now conducting the business of , (type of business) at , as partners, under the firm name of (Street Address, City, State, Zip Code) Company, hereinafter referred to as the ฀Partnership, ฀ pursuant to the terms of a certain written agreement dated the day of , 20 . Partners desire to dissolve the partnership on the terms and conditions set forth. and do hereby covenant and agree as follows: 1. An audit of the books, accounts and affairs of Partnership as of the close of business on day of , 20 , shall be made by the firm of , certified public accountants (hereinafter referred to as ฀ Auditors ฀). The cost of the audit shall be borne equally by the Partners, and the audit shall be binding upon the Partners. 2. does hereby assign to all right, title and interest in and to the business of the Partnership now being conducted under the name of Company , together with all contracts, leases, office furniture, fixtures, equipment, office supplies, books, records, accounts, money in bank, and all other property of every kind, character and description, used in, devoted to, or owned by the business now carried on in the name of Company . 3. There shall be set up on the books of Company an account, to the credit of , to be known as " Account ," which account shall be credited with: a. The capital account of in the Partnership , the amount of which shall be determined by the audit contemplated in Paragraph 1 above. b. Fifty Per Cent of any sums charged off as losses which may be recovered, it being agreed that will promptly undertake recovery of these losses in accordance with reasonable business practices, or reassign them to and cooperate with Agreement for the Dissolution of PartnershipPage 2 of 2 in their recovery. Should the Account be closed, as contemplated, before the time of any recovery, Fifty Per Cent of the amount of recovery shall be paid to . c. Fifty Per Cent (50%) of the credit balances appearing in the Partnership accounts as they appear or should have appeared at the close of business on the day of , 20 . 4. The Account shall be charged with Fifty Per Cent (50%) of: a. All debit balances appearing in accounts as they appear or should have appeared at the close of business on the day of , 20 . b. All losses appearing, or which should have appeared, on the books of Partnership as of the close of business on the day of , 20 , accounts. c. All other liabilities of the Partnership, contingent or otherwise, actually existing at the close of business on the day of , 20 , discovered prior to that date. 6. It is agreed that the name shall be eliminated from the firm name as soon as it reasonably may be done. 7. The partnership existing between the parties to this agreement under the name of Company shall be deemed terminated and dissolved on the day of , 20 , shall have no authority to act for the Partnership after that date. All obligations of either party to the other shall be settled and adjusted upon the terms and provisions of this instrument. 8. It is agreed that from and after this date the sole and exclusive control, management and direction of the business shall be vested in . 9. This contract shall be binding upon and inure to the benefit of the heirs, representatives and assigns of the parties. WITNESS OUR SIGNATURES this the day of , 20 . Signature Signature Print or Type Name Print or Type Name