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Winding-up Partner
A partner designated or appointed to handle the process of dissolving a partnership or company, ensuring debts are paid and any remaining assets are distributed.
Proceeds
The amount of money received from a sale or transaction after all costs and expenses have been paid.
Partnership Obligations
The duties and responsibilities that partners in a business partnership have towards each other, the partnership itself, and third parties, including financial and fiduciary duties.
Dissociated
Pertaining to a member who has ended their involvement with or participation in a business entity.
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