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A Notice of Dissolution is a formal document filed by a corporation or organization to officially declare its intent to terminate its existence. This notice typically includes details such as the name of the entity, the reason for dissolution, and the effective date of the dissolution. It serves to inform stakeholders, including creditors and shareholders, of the decision and initiates the legal process of winding up the entity's affairs. Filing this notice is often a necessary step to comply with state laws governing business entities.

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1w ago

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When a firm is put to an end as between all the partners, that is called dissolution. Section 39 declares:Section 39. Dissolution of a firm.-The dissolution of partnership between all the partners of a firm is called the "dissolution of the firm".Thus dissolution is something different from the retirement of a partner, because in retirement the business is continued by one or more of the partners. Where immediately after dissolution, the firm is reconstituted and the business resumed by some of the partners, even if in the same name and place, that remains dissolution. Where, on the other hand, on the death of a partner, his legal heirs joined the firm in accordance with the provisions of the partnership deed, the firm would not stand dissolved, although its constitutional documents would have to be altered.MODES OF DISSOLUTION1. By consent [S.40]2. By agreement [S.40]3. Compulsory dissolution [S.41]4. Contingent dissolution [S. 42]5. By notice [S.43]6. Dissolution by court [S.44]


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