Question

    Which of the following is a valid mode of dissolution

    of a Partnership? A. By notice B. By expiry of fixed term. C. By death of a partner
    A A and B Correct Answer Incorrect Answer
    B A, B and C Correct Answer Incorrect Answer
    C A only. Correct Answer Incorrect Answer
    D B only. Correct Answer Incorrect Answer

    Solution

      S.42 DISSOLUTION ON THE HAPPENING OF CERTAIN CONTINGENCIES. 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 adventures or undertakings, by the completion thereof; (c) by the death of a partner; and (d) by the adjudication of a partner as an insolvent.

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