Dissolution of a firm can be brought about by
Question and options
Dissolution of a firm can be brought about by
- expiry of the term for which it was constituted
- adjudication of a partner as an insolvent
- death of a partner
- All of the given options are correct
Answer and explanation
Correct answer: D - All of the given options are correct
Under section 42 of the Indian Partnership Act, 1932, subject to contract between the partners, a firm is dissolved (a) if constituted for a fixed term, by the expiry of that term, (c) by the death of a partner and (d) by the adjudication of a partner as an insolvent. Each of the three grounds offered dissolves the firm, so no single ground is the whole answer.
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