A partner may retire from a firm______.

With consent of all other partners

No worries! We‘ve got your back. Try BYJU‘S free classes today!

By an express agreement by the partners

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Both of (a) and (b)

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C Both of (a) and (b)
The partner who retires from an existing firm is known as a 'retiring partner' or an 'outgoing partner'. The retiring partner must give a public notice of his retirement. He may retire with the consent of all the partners. The partners may enter into an express agreement about the retirement of a partner.

Suggest Corrections