358.320. Dissolution by decree of court. - Missouri Statutes

Dissolution by decree of court.

358.320. 1. On application by or for a partner the courtshall decree a dissolution whenever:

(1) A partner is shown to be mentally incapacitated;

(2) A partner becomes in any other way incapable ofperforming his part of the partnership contract;

(3) A partner has been guilty of such conduct as tends toaffect prejudicially the carrying on of the business;

(4) A partner willfully or persistently commits a breach ofthe partnership agreement, or otherwise so conducts himself inmatters relating to the partnership business that it is notreasonably practicable to carry on the business in partnershipwith him;

(5) The business of the partnership can only be carried onat a loss;

(6) Other circumstances render a dissolution equitable.

2. On the application of the purchaser of a partner'sinterest under sections 358.270 and 358.280:

(1) After the termination of the specified term orparticular undertaking;

(2) At any time if the partnership was a partnership at willwhen the interest was assigned or when the charging order wasissued.

(L. 1949 p. 506 § 32, A.L. 1983 S.B. 44 & 45)

(1973) Where no fixed term for partnerships was agreed on and notice provisions of agreement were met and partner "voluntarily" left partnership, dissolution occurred and it was not necessary to sue for dissolution under this section. Willman v. Beheler (Mo.), 499 S.W.2d 770.