The death of a partner results in a dissociation and requires a settlement with the estate of the deceased partner.

Question

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When a partner dies, the partnership is dissolved and the remaining partner(s) must settle with the estate of the deceased partner. This involves dividing the partnership assets and liabilities and distributing them according to the terms of the partnership agreement or the laws in the jurisdiction where the partnership was formed.

The Death of a Partner Results in a Dissociation and Requires