Practicing Success
Practicing Success
CUET Preparation Today
Under what circumstances can a partnership firm be dissolved by notice? |
When all the partners agree to dissolve the firm When a partner becomes insane When the business of the firm cannot be carried on except at a loss When a partner transfers his interest to a third party |
When all the partners agree to dissolve the firm |
Dissolution by notice occurs in the case of a partnership at will, which means a partnership that doesn't have a fixed term or a specific venture to carry out. In such partnerships, any partner can give a notice in writing to the other partners, expressing their intention to dissolve the firm. Once all the partners agree to dissolve the firm, it can be dissolved. |
