Question: Draft a Partnership Dissolution Agreement Scenario: Lucy has returned to the law office as a client to seek additional advice regarding her business with Ethel.
Draft a Partnership Dissolution Agreement Scenario: Lucy has returned to the law office as a client to seek additional advice regarding her business with Ethel. She no longer wants to continue to be in a partnership with Ethel. Your supervising attorney sent you an email requesting you draft a partnership dissolution agreement for Lucy regarding the Ricardo and Mertz Lemonade Squeezy Stand (RM) with Ethel. From: Supervising Attorney To: Research Paralegal Subject: Lucy Ricardo's Partnership Dissolution Dear Paralegal, Please include the following in the partnership dissolution agreement. Partnership Name: Ricardo and Mertz Lemonade Squeezy Stand (RM). Lucy Ricardo Address: 1234 Little Ricky Lane (Emporia, VA, and 23847) Ethel Mertz Address: 9876 Babalu Drive (Your Emporia, VA, and 23847) RM Cash on hand: $3,000 RM Assets: Refrigerator ($2,000), Lemon hand squeezer ($300), tables & chairs ($4,000), general supplies and equipment ($5,000), and Fresh Lemons ($600). RM owes $3000 to the food court for leased space. RM owes Lemon Supply $400 for fresh lemons. Review and analyze the applicable case and statutory laws for Virginia to legally terminate a partnership. Review and analyze the laws in Virginia for partnership dissolution, winding down a business, and termination of a partnership. Support all responses with relevant legal authorities. Identify considerations related to the scenario on how Virginia treats the dissociation and/or dissolution of a business
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