The partnership can be dissolved at any time by mutual agreement of the partners, the partners liquidating the company`s activities with a reasonable speed. The name of the partnership is sold with the company`s other assets. The partner`s assets are used and distributed in the following order: (a) if the surviving partner decides to acquire the shares of the company`s average, the purchase price is equal to the capital account of the condemned person at the time of his death, plus the fraudster`s income account at the end of the previous year. increase their share in the company`s profits or decreased by their share in loss-making partnerships for the period from the beginning of the fiscal year in which their death occurred until the end of the calendar month in which their death occurred, and was reduced by withdrawals from their income account during that period. Value, trade name, patents or other intangible assets are not taken into account unless these assets were included in the company books immediately prior to the death of the deceased; However, the survivor has the right to use the commercial name of the partnership. Partner Actions – Is there a limitation of liability for general practitioners and sponsorships? What is the responsibility of partners when a partner engages in illegal activities while representing the partnership? By using a partnership agreement that defines all of the above, your partnership activity is more likely to succeed. If you are at an impasse, the agreement will provide instructions on the most appropriate steps to take to save the partnership and personal relationships. With everything you can do with a partnership agreement, we strongly recommend that all business partnerships create this legal system. (a) to pay or pay all social debts and to liquidate expenses and liabilities; To create a partnership agreement in Buffalo, New York, Albany, Rochester, Yonkers, Syracuse, Niagara Falls or any other New York city, download our free partnership contract form to start the process. Partners have equal rights in managing the partnership business, including the power to combine the partnership on behalf of and on the company`s credit when establishing contracts and commitments, and each partner devotes all of its time to running the business.