CUET Preparation Today
| Retirement of a partner means: |
Reconstitution of Partnership Dissolution of Partnership Winding Up None of the Above |
| Reconstitution of Partnership |
| On the retirement or death of a partner, the existing partnership deed comes to an end, and in its place, a new partnership deed needs to be framed whereby, the remaining partners continue to do their business on changed terms and conditions. This is called as reconstitution of partnership. |
