A partnership firm is compulsorily dissolved:
Answers
Answered by
23
When all the partners of a firm are declared insolvent or all but one partner are insolvent, then the firm is compulsorily dissolved. (ii) Illegal Business: The activities of the firm may become illegal under the changed circumstances.
Answered by
2
Explanation:
Compulsory Dissolution: A firm isdissolved compulsorily in the following cases: (a) when all the partners or all but one partner, become insolvent, rendering them incompetent to sign a contract; (b) when the business of thefirm becomes illegal; or (c) when some event has taken place which makes it unlawful for the
Similar questions