Question

In which circumstances a public notice is required to be given?

• A. By a retiring partner on his retirement.
• B. By incoming partner on his admission.
• C. By a dormant partner that he is not taking part in management.
• D. By a nominal partner that he is sharing profits only.

Answer 1

Answer: (A)

By a retiring partner on his retirement.

A partner may retire-

1. with the consent of all the other partners,

2. in accordance with an express agreement by the partners, or

3. where the partnership is at will, by giving notice in writing to all the other partners of his intention to retire.

Therefore, public notice is required to be given by a retiring partner on his retirement.