A Dissolution Agreement Partnership (DAP) is a formal document used to legally dissolve a business partnership. The document outlines the dissolution process, the responsibilities of each partner, and the division of assets, liabilities, and ownership interests of the enterprise. It also specifies any payment obligations; any dispute resolution procedures; and any other related matters that need to be addressed. By putting these terms in writing, both partners are sure to have an understanding of what takes place in the event of the dissolution of the partnership. Additionally, DAPs enforce accountability, preventing misunderstandings and disputes between former partners.