Delaware § 15-602 Partner’s power to dissociate; wrongful dissociation

Delaware Statutes

§ 15-602 — Partner’s power to dissociate; wrongful dissociation

Delaware·Title 6·Ch. 15 DELAWARE REVISED UNIFORM PARTNERSHIP ACT·Subch. Partner’s Dissociation

(a)A partner has the power to dissociate at any time, rightfully or wrongfully, by express will pursuant to § 15-601(1) of this title.

(b)A partner’s dissociation is wrongful only if any of the following apply:

(1)It is in breach of an express provision of the partnership agreement; or

(2)In the case of a partnership for a definite term or particular undertaking, before the expiration of the term or the completion of the undertaking if any of the following apply:

(i)The partner withdraws by express will, unless the withdrawal follows within 90 days after another partner’s dissociation by death or otherwise under § 15-601(6) through (12) of this title or wrongful dissociation under this subsection;

(ii)The partner is expelled by judicial determination under § 15-601(5) of this ti

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(a) A partner has the power to dissociate at any time, rightfully or wrongfully, by express will pursuant to § 15-601(1) of this title.

(b) A partner’s dissociation is wrongful only if any of the following apply:

(1) It is in breach of an express provision of the partnership agreement; or

(2) In the case of a partnership for a definite term or particular undertaking, before the expiration of the term or the completion of the undertaking if any of the following apply:

(i) The partner withdraws by express will, unless the withdrawal follows within 90 days after another partner’s dissociation by death or otherwise under § 15-601(6) through (12) of this title or wrongful dissociation under this subsection;

(ii) The partner is expelled by judicial determination under § 15-601(5) of this title;

(iii) The partner is dissociated under § 15-601(6) of this title; or

(iv) In the case of a partner who is not an individual, trust (other than a statutory trust), or estate, the partner is expelled or otherwise dissociated because it wilfully dissolved or terminated.

(c) A partner who wrongfully dissociates is liable to the partnership and to the other partners for damages caused by the dissociation. Such liability is in addition to any other obligation of the partner to the partnership or to the other partners.

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