If there is a partnership in any matter and the business is concluded, the partnership is ended.

Explanation

A partnership formed for a specific purpose terminates when that purpose is accomplished — the venture's completion dissolves the association by operation of law.

Where this applies

• Two contractors form a joint venture to build a single bridge, and once the bridge is completed and the client has paid, the joint venture automatically dissolves because the purpose is accomplished.
• A group of investors pool funds to purchase and flip a property, and after the sale closes and profits are distributed, the partnership ends by operation of law because the business is concluded.
• Two law firms partner to handle a single antitrust case, and when the case settles, the partnership dissolves because the specific purpose for which it was formed has been fulfilled.

See also

• 6.1.1 Consent makes the law.