Question

garner vs murry related to​

Answer 1

Explanation:

According to the Garner Vs Murray rule the loss on the account on the insolvency of a partner is a capital loss which should be borne by the solvent partners in the ratio of their capitals standing in the balance sheet on the date of dissolution of the firm.

Answer 2

Answer:

In the event of the insolvency of a partner any losses should be shared in the ratio of the last agreed capital balances before the dissolution took place . This is known as GARNER VS MURRY RULE.

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