Question
Outline any Four circumstances under which a partnership may be dissolved.
Answer
- If the partners partially agree to dissolve
- In case of death / insanity / bankruptcy of a partner
- In case of a court order
- Where a partner requests for its dissolution
- In case of continued disagreements among the partners
- In case of admission of anew partner or retirement of a partner
- If the intended purpose has been completed / achieved
- When there is a change in law rendering the business illegal
- Where the business is continuously running at a loss
- In case of death / insanity / bankruptcy of a partner
- In case of a court order
- Where a partner requests for its dissolution
- In case of continued disagreements among the partners
- In case of admission of anew partner or retirement of a partner
- If the intended purpose has been completed / achieved
- When there is a change in law rendering the business illegal
- Where the business is continuously running at a loss
Related Topics