Question

A partner may retire _________.

• A. with the consent of all the partners
• B. in accordance with an express agreement by the partners
• C. where the partnership is at will, by giving notice in writing to all the other partners of his intention to retire
• D. Any of the above

Answer 1

The correct option is D Any of the above

b'The retirement of a partner extinguishes his interest in the Partnership firm and this leads to dissolution of the firm or reconstitution of the Partnership. A partner, who goes out of a firm, is called retiring partner or outgoing partner. Causes for the retirement may be that a retiring partner may be too old or he may have better opportunity in a different line or he may dislike the co-partners’ attitude or any other reasons.'