Knowing how to terminate a contract is helpful if a contract or agreement needs to be terminated.3 min Read If your complementary company has contracts with other people or companies, you and your partners may also be held liable after termination. If these contracts do not contain terms that exempt you and your partners from an infringement, if the partnership is terminated, your partnership as a whole (or partner) may be sued even after it is dissolved. A partnership must be formally dissolved to ensure that the partners are not responsible for the overall debt of the partnership. Once the agreement has been concluded, a partner cannot engage any of the other partners in a business without their consent. Most importantly, it is a document that denies the dissolution provisions in the Partnership Act 1890, most of which do not reflect the way businesses operate today. This is a professional, easy-to-use agreement that should give you the legal and business framework you need to need the most important of the “bulk ends” as you follow your separate paths. It is always in the best interest of a business owner to consult a lawyer who specializes in commercial law when it comes to business dissolutions or partnerships. . . .