Question

1. When all partners are insolvent & firm gets dissolved a. opened?​

Answer 1

• In the following cases the dissolution of a firm takes place compulsorily: Insolvency of all the partners or all but one partner as this makes them incompetent to enter into a contract. When the business of the firm becomes illegal due to some reason. Thus, the business becomes unlawful.

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Answer 2

Answer:

In the following cases the dissolution of a firm takes place compulsorily: Insolvency of all the partners or all but one partner as this makes them incompetent to enter into a contract. When the business of the firm becomes illegal due to some reason. Thus, the business becomes unlawful.