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Is a retiring partner liable for firm's acts before his retirement?
Is a retiring partner liable for firm's acts before his retirement?
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Solution
A retiring partner is the person who leaves the firm while the firm continues to exist.A retiring partner continues to be liable for firm's act upto the date of his retirementl also be liable for all the transactions of the firm that had begun but were unfinished at the time of retirement.
A retiring partner continues to be liable for firm's act upto the date of his retirementl also be liable for all the transactions of the firm that had begun but were unfinished at the time of retirement.
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