NRS
87.320 Dissolution by decree of court.
1. On application by or for a partner the
court shall decree a dissolution whenever:
(a) A partner has been declared a lunatic in any
judicial proceeding or is shown to be of unsound mind;
(b) A partner becomes in any other way incapable
of performing his or her part of the partnership contract;
(c) A partner has been guilty of such conduct as
tends to affect prejudicially the carrying on of the business;
(d) A partner willfully or persistently commits a
breach of the partnership agreement, or otherwise so conducts himself or
herself in matters relating to the partnership business that it is not
reasonably practicable to carry on the business in partnership with the
partner;
(e) The business of the partnership can only be
carried on at a loss; or
(f) Other circumstances render a dissolution
equitable.
2. On the application of the purchaser of
a partner’s interest under NRS 87.270 or
87.280:
(a) After the termination of the specified term
or particular undertaking; or
(b) At any time if the partnership was a
partnership at will when the interest was assigned or when the charging order
was issued.
[32:74:1931; 1931 NCL § 5028.31]
Notes of Decisions
Rasmussen v. Thomas, 644 P.2d 1030 (Nev. 1982).
“Our review of the record indicates that the primary cause of the dissolution in this case was the misconduct of appellant Walter Rasmussen, see NRS 87.320(l)(d), and thus NRS 87.380(1) governs the rights of the respondent partners.”
Ali v. Arif, No. 67629 (Nev. July 23, 2015).
“Moreover, the relevant agreement clause, provision 14, applied only to dissolution "by death or withdrawal," and here, the district court ordered the partnerships dissolved under NRS 87.320(1)(c) (conduct tending to prejudicially affect the business), as well as by the parties'…”
Nev. Rev. Stat. § 87.320(1)(c): 1 case
Ali v. Arif, No. 67629 (Nev. July 23, 2015).
“Moreover, the relevant agreement clause, provision 14, applied only to dissolution "by death or withdrawal," and here, the district court ordered the partnerships dissolved under NRS 87.320(1)(c) (conduct tending to prejudicially affect the business), as well as by the parties'…”
Nev. Rev. Stat. § 87.320(l)(d): 1 case
Rasmussen v. Thomas, 644 P.2d 1030 (Nev. 1982).
“Our review of the record indicates that the primary cause of the dissolution in this case was the misconduct of appellant Walter Rasmussen, see NRS 87.320(l)(d), and thus NRS 87.380(1) governs the rights of the respondent partners.”
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