“Adjudication of a partner as an insolvent” leads to _________.
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Dissolution on the happening of certain contingencies
The insolvency of one partner is a contingency, like the death of a partner. Compulsory dissolution needs all the partners, or all but one, to become insolvent.
NCERT (2026-27 edition): |