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1. Define dissolution, winding up, and termination. 2. Enumerate the different grounds for dissolution of partnership. 3. What is the effect of dissolution? 4. When

1. Define dissolution, winding up, and termination.

2. Enumerate the different grounds for dissolution of partnership.

3. What is the effect of dissolution?

4. When is the partnership bound by transaction entered by a partner after dissolution?

5. When is the partnership not bound by transactions entered into by a partner after dissolution?

6. How are profits and losses distributed to the partners?

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