Which of the following is the mode of dissolution of a partnership firm?

All of these

The correct answer is option 4- All of these.

Dissolution of a firm takes place in any of the following ways:

1. Dissolution by Agreement: A firm is dissolved :

• (a) with the consent of all the partners
• (b) in accordance with a contract between the partners.

2. Compulsory Dissolution: A firm is dissolved compulsorily in the following cases:

• (a) when all the partners or all but one partner, become insolvent, rendering them incompetent to sign a contract;
• (b) when the business of the firm becomes illegal; or
• (c) when some event has taken place which makes it unlawful for the partners to carry on the business of the firm in partnership

3. 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 ventures, by the completion thereof;
• (c) by the death of a partner;
• (d) by the adjudication of a partner as an insolvent.

4. Dissolution by Notice: In case of partnership at will, the firm may be dissolved if any one of the partners gives a notice in writing to the other partners, signifying his intention of seeking dissolution of the firm.

5. Dissolution by Court: At the suit of a partner, the court may order a partnership firm to be dissolved on any of the following grounds:

• (a) when a partner becomes insane;
• (b) when a partner becomes permanently incapable of performing his duties as a partner.