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Question
Subject to contract between the partners, a firm is dissolved by the _______ of a partner.
Subject to contract between the partners, a firm is dissolved by the _______ of a partner.
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Solution
The correct option is B Death
Dissolution of partnership firm may take place without the intervention of court or by the order of a court, in any of the specified ways. It may be noted that dissolution of the firm necessarily brings in dissolution of the partnership.On the happening of certain contingencies is one way which results in dissolution of firm. Subject to contract between the partners, a firm is dissolved:(a) if constituted for a fixed term, by the expiry of that term; (b) if constituted to carry out one or more ventures, by the completion thereof;(c) by the death of a partner; (d) by the adjudication of a partner as an insolvent.
Dissolution of partnership firm may take place without the intervention of court or by the order of a court, in any of the specified ways. It may be noted that dissolution of the firm necessarily brings in dissolution of the partnership.
On the happening of certain contingencies is one way which results in dissolution of firm. Subject to contract between the partners, a firm is dissolved:
(a) if constituted for a fixed term, by the expiry of that term;
(b) if constituted to carry out one or more ventures, by the completion thereof;
(c) by the death of a partner;
(d) by the adjudication of a partner as an insolvent.
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