Question

Change in the relationship between the partners. Answer in a word / phrase / term.

Answer 1

Hey mate✌️✌️


Change in the relationship between the partners⤵️⤵️⤵️


(Dissolution)

Answer 2

Change in the relationship between the partners is referred to as dissolution of the partnership.

A partnership is said to be dissolved under the following circumstances:

1. Contingent dissolution- death, expiry of partnership period, etc.

2. Voluntary dissolution by agreement.

3. In case of insolvency, illegal activities by partners.

4. Dissolved with the help of the court in case of misconduct, inefficiency of the partner.

5. Transferring or selling of shares to other parties.