Question
Once all the partners anticipate dissolution of the
firm___.Solution
Partnership Act S.54 AGREEMENTS IN RESTRAINT OF TRADE. Partners may, upon or in anticipation of the dissolution of the firm, make an agreement that some or all of them will not carry on a business similar to that of the firm within a specified period or within specified local limits and notwithstanding anything contained in section 27, of the Indian Contract Act, 1872, such agreement shall be valid if the restrictions imposed are reasonable.
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