On the death of a partner, when can the partnership business continue?
I. When there are more than 2 partners in the firm
II. When there are 2 or more than 2 partners in the firm
III. When the legal representative is interested in taking forward the business
IV. When the partnership deed is silent on the dissolution clause on death of a partner
When a partner dies, subject to any contract to the contrary, partnership is dissolved. Section 42 of the Indian Partnership Act, 1932 (“Act”) provides for dissolution of partnership on occurrence of certain contingencies which includes ‘death of the partner’ as one of those contingencies. However, in cases where the terms of the partnership deed are silent on continuation of partnership’s business, a contract to continue the partnership after the death of a partner may be implied from the conduct of the parties. This means that where it is evident that such an intention was present, the nominee or legal representative of the deceased partner can take the place of deceased partner and business of the firm can be continued with the presumption that the partnership was never dissolved on the death of that partner. The above legal position is based on two assumptions- (a) there are more than two partners in the firm, and (b) the legal representatives are interested in taking forward the business of the firm.
Select the option that represents the letter that, when placed from left to right will come in the blanks below, will complete the letter sequence corre...
Select the correct combination of the letters that when sequentially placed in the blanks of the given letter series will complete the series.
p ...
A letter series is given below in which some letters are missing. Select the option that gives the letters that can fill these blanks in that order.
What will come in the place of question mark?
Select the option that is related to the third letter-cluster in the same way as the second letter-cluster is related to the first letter-cluster.
<...Select the combination of numbers that when placed sequentially in the blanks of the given series will complete the series.
r _ o o o _ _ d d d...
Select the combination of letters that when sequentially placed in the blanks of the given series will complete the series.
M O_ T V _ _ R _V M _ _ T V
Select the correct combination of the letters that when sequentially placed in the blanks of the given letter series will complete the series.
a ...
Select the combination of letter that when sequentially placed in the blanks of the given series will complete the series.
V _ _ Y Z _ W X Y _ V ...
Select the letter-cluster from among the given options that can replace the question mark (?) in the following series.
OA, LG, IM, FS, ?
