Document background
A Partnership Cancellation Letter is essential when one or more partners wish to formally terminate their business relationship under English and Welsh law. This document should be used when dissolving any form of business partnership, whether it's a general partnership, limited partnership, or professional practice. The letter must comply with the Partnership Act 1890 and should reference specific clauses from the original partnership agreement regarding dissolution. It typically includes key information such as the effective date of cancellation, arrangements for asset distribution, handling of ongoing contracts, and client transition plans. This formal notice helps ensure a clear record of the partnership's termination and can help prevent future disputes.
