Question

Explain the various methods of dissolution of a partnership firm​

Answer 1

Explanation:

A partnership firm can be dissolved by an agreement among all the partners. Section 40 of Indian Partnership Act, 1932 allows the dissolution of a partnership firm if all the partners agree to dissolve it. Partnership concern is created by agreement and similarly it can be dissolved by agreement.

Answer 2

Answer:

Dissolution without the order or intervention of the court takes place in the following cases :

(i) Dissolution by agreement of all the partners,

(ii) Compulsory dissolution when all the partners or all the partners but one are declared insolvent; or, when the business of the firm, by the happening of an event, becomes ...