What is an affidavit of dissolution of partnership?
An affidavit of dissolution of a partnership is a legal document, that is written and presented by a partner to support a suit filed in the court for the dissolution of the partnership. It is prepared to be shown in the court, and hence, is addressed to the judge of the case. This document serves the purpose of evidence and contains the information, that is required by the court, or supports the allegations or issues, that have set the basis for the partnership dissolution.
It is extremely important that the information included in an affidavit is correct and valid. As it is a duly signed document, if the information is found to be counterfeited and incorrect, the person would get penalized by the court. In addition, one needs to have evidence and proof to write the affidavit. The arguments presented should be well-conversed and based on facts.
Affidavit works as legal statement
When a case is filed in court by a partner to seek partnership dissolution, he needs to present his personal statement, duly signed, referred to as an affidavit of dissolution of the partnership. This statement is considered a legal document. The information included in it may vary as per the circumstances. However, a general template of such an affidavit contains the following details:
- Date of the affidavit.
- Details of the judge and the court.
- Details of the person writing the affidavit.
- Details of the case, including the reference number, date of filing, etc.
- Starting date and details of the partnership agreement.
- Affirmation that the information is correct, and the person is well aware of the facts to write the document.
- The allegations, issues or reasons of dissolving the partnership.
- Supporting proofs and evidence.
- Request for dissolution finalization.
When a duly signed affidavit is presented to the judge, it is kept in the record of the filed suit. It is also used as a reference, or as evidence, by an attorney, defending the party writing the affidavit, to make the case strong as well as by a judge to make the final decision, regarding the dissolution of the partnership and the distribution of assets, while settling the liabilities.
Therefore, the affidavit presented with the correct facts in a timely manner, by a responsible individual, can prove to be a turning point in the case’s decision. All the information and facts, and the signature, should be valid.
I, Eric Dane S/O Erica Dane aged, 43, solemnly declare the dissolution of partnership and say as follows.
I, Patrick Dempsey S/O Patricia Dempsey, aged, 40, solemnly declare the dissolution of partnership and say as follows.
Both above-mentioned parties have been carrying on the business of ABC Company, a textile industry on Main boulevard.
It is agreed by and between the parties that,
- The partnership between the above-mentioned partner for running ABC Company and outlet has come to an end.
- Both partners can name one individual that they both trust so that dissolution can be done in a polite manner.
- Patrick Dempsey will buy out the whole business and provide money in exchange to Eric Dane.
- Business will be run by Mr. Dempsey using same name and style.
- Mr. Dempsey will be responsible for all the liabilities and assets acquired in the name of business.
- Remaining partner will be at liberty to open as many businesses as he wants with the same name and style of current business.
- Leaving partner will not be allowed to use same business name for any venture that he will follow.
- All the rights and claims of retiring partner will be paid by the remaining partner in the form of money.
- Retiring partner will be asked to detach from all the clients of the business and not spread any false rumours regarding business.
- The remaining partner will be at liberty to continue working the business alone or form any sort of partnership.
- After the concluding date, continuing partner will be responsible for all the profits, loss or debts related to the business.
- ___________ [Signature]
- ___________ [Signature]
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