Question

If one business partner is insolvent the other partner may be

Answer 1

Answer:

The partner cannot continue as one in the firm after being insolvent. The partner ceases to be a partner from the date on which the order of adjudication is made. ... However, the partners are competent to agree among themselves that adjudication of a partner as an insolvent will not give rise to a dissolution of the firm.

Answer 2

Answer:

Answer:

The partner cannot continue as one in the firm after being insolvent. The partner ceases to be a partner from the date on which the order of adjudication is made. ... However, the partners are competent to agree among themselves that adjudication of a partner as an insolvent will not give rise to a dissolution of the firm.