Question

List any two grounds on which a firm gets dissolved on courts order

Answer 1

$\huge\mathfrak\pink{Answer:}$

The dissolution of a firm means discontinuance of its activities. When the working of a firm is stopped and the assets are realised to pay various liabilities it amounts to dissolution of the firm. The dissolution of a firm should not be confused with the dissolution of partnership. When a partner agrees to continue the firm under the same name, even after the retirement or death of a partner, it amounts to dissolution of partnership and not of firm.

The remaining partners may purchase the share of the outgoing or deceased partner and continue the business under the same name; it involves only the dissolution of partnership. The dissolution of firm includes the dissolution of partnership too. The partners have a contractual relationship among themselves. When this relationship is terminated it is an end of the firm.

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Answer 2

Answer:

The dissolution of a firm means discontinuance of its activities. When the working of a firm is stopped and the assets are realised to pay various liabilities it amounts to dissolution of the firm. The dissolution of a firm should not be confused with the dissolution of partnership. When a partner agrees to continue the firm under the same name, even after the retirement or death of a partner, it amounts to dissolution of partnership and not of firm.

The remaining partners may purchase the share of the outgoing or deceased partner and continue the business under the same name; it involves only the dissolution of partnership. The dissolution of firm includes the dissolution of partnership too. The partners have a contractual relationship among themselves. When this relationship is terminated it is an end of the firm.

___________________

HOPE IT IS HELPFUL!!!

BE BRAINLY...