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    Question

    Which of the following is a valid mode of dissolution of a Partnership?

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