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Resolving Outstanding Financial Obligations One of the most important things for business owners to consider is whether they have outstanding financial obligations that need to be resolved before the business ceases operation. This can include renting office space where the business owner holds the title or any personal assets used as collateral for business debts. Proactively communicating with vendors, lenders, and suppliers can help business owners determine what to pay off when and the available options for doing so. Maintaining Records During the entire dissolution process, it's important for business owners to keep detailed records of the proceedings in a safe place. Standard dissolution guidelines typically require these records to be kept for up to seven years in the event future litigation arises. Posted in Commercial Litigation Tagged Dissolution of Business Article is available at https://feldman.lawews/what-to-consider-when-going-through-the- dissolution-of-a-business-due-to-covid-19/ Answer the questions below based on the excerpt given. a) Briefly explain THREE (3) methods for dissolution of partnership provided under Partnership Act 1961 by taking into consideration the effects of Covid 19 to the business of partnership (15 marks) (CLO1: PLO1: C2) b) Provide TWO (2) types of partner's liability that need to be considered before the dissolution of partnership. (10 marks) (CLO1: PLO1: C2)

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