Question

A, B, C are active partners in the firm. ‘A’ retires without giving public notice of his retirement. ‘B’ and ‘C’ carries on the business of the firm, and incurs liability. In this case : (a) ‘A’ is also liable (b) Only ‘B’ & ‘C’ are liable (c) Firm will be deemed to be dissolved (d) Only ‘A’ is liable

Answer 1

At the time of retirement of the partner ,firm gets from the insurance company against life policy taken jointly for all the partner?