178.27 Dissolution by decree of court. - Wisconsin Statutes

178.27

178.27 Dissolution by decree of court.

178.27(1)

(1) On application by or for a partner the court shall decree a dissolution whenever any of the following applies:

178.27(1)(a)

(a) A partner has been declared a lunatic in any judicial proceeding or is shown to be of unsound mind.

178.27(1)(b)

(b) A partner becomes in any other way incapable of performing the partner's part of the partnership contract.

178.27(1)(c)

(c) A partner has been guilty of such conduct as tends to affect prejudicially the carrying on of the business.

178.27(1)(d)

(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 him or her.

178.27(1)(e)

(e) The business of the partnership can only be carried on at a loss.

178.27(1)(f)

(f) Other circumstances render a dissolution equitable.

178.27(2)

(2) On the application of the purchaser of a partner's interest under s. 178.23 or 178.24: (a) After the termination of the specified term or particular undertaking; (b) at any time if the partnership was a partnership at will when the interest was assigned or when the charging order was issued.

178.27(3)

(3) Upon application by a district attorney or the attorney general, the court shall decree a dissolution if the partnership has violated s. 940.302 (2) or 948.051 (2).

178.27 - ANNOT.

History: 1993 a. 482; 2007 a. 116.