What happens if the partners do not agree to dissolve a joint venture?

Now when it comes to joint ventures, there are two ways in which liming can be done

1. Issuing without a court order
2. Issuing a court order

It happens in both ways. If agreed

Closing, closing, closing of the project, death, expiration of a term or simply the issuance of a notice may be permitted by agreement.

This is the best way, be sure to specify the profit / loss / assets as well as the loan repayment when dissolving in a partnership agreement)

Conflicts of opinion between friends, lovers, parents or people and disagreements are common in today's society, and conflicts between partners and business associates are common.

If you do not agree, you will have to go to court and if you do not agree with the conclusion you will have to go to the Court of Appeal.

The problem is exacerbated by the lack of joint venture legal personality. If all the partners cannot come to an agreement, one or more of them will have to file a petition to the court to dissolve the joint venture.

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Why do this?

Because it is difficult to run a joint venture without the consent of one or more partners.

One partner or several partners
New partnerships removed from the joint venture
Carrying out the business again on an agreement
Stop joint venture assets completely
Is to liquidate

There are several instances in which a petition for a dissolution order can be sought.

1. To paralysis of a partner due to insanity
In case of appointment

2. When a partner is completely paralyzed

3. Misbehavior of a partner

4. Partner with several people who were some kind of partner
When acting contrary to the agreement

5. A partner's business acumen is third
When assigned to a party or business passion
In case of absence

6. When the business continues to suffer losses

7. Financial fraud or crime during a joint venture or
When it has been done outside or sued on it
When there is a partner or several partners
To remove people

8. Various other reasons for this
Used

Here, in case of partners' insanity, lack of affection or financial or other crimes, the removal of the partners often has to go to court and all other issues can be resolved. (That is, without going to court)

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Going to court should always be the final resort, except in cases where the business is completely shut down. It is detrimental to the longevity of the business.