Documents for Business
In excess of 1,000 customisable documents covering every conceivable business issue.Introduction to this document
Notice of intention to end
partnership at will
For various reasons you want to leave the partnership. How is this done? Use our notice to make sure all the formalities are complied with.
Advice
If there’s either no written partnership agreement, i.e. there’s only a verbal agreement, or there’s no provision in the agreement about termination, then you’ve created what’s called a “partnership at will”. In this case, there’s no need to give any notice that you want things to end - you can end things at any time. However, if the partnership was set up by deed, you must give notice in writing.
Tip
Only terminate a partnership with no notice as a last resort. Ending the relationship with immediate effect leaves you with no opportunity to negotiate and discuss your exit with the other partner(s). This, in turn, is likely to lead to chaos, with the business being severely disrupted as well as there being nothing in place to deal with the valuation and purchase of your share of the business.
