Question

Q5. What will happen if reired partner who has given due notice of his retirement, but he is not paid his
balance of capital at the time of retirement?​

Answer 1

QUESTION

What will happen if reired partner who has given due notice of his retirement, but he is not paid his

balance of capital at the time of retirement?

ANSWER

Retirement of a partner.—

(1) A partner may retire,—

(a)with the consent of all the other partners,

(b) in accordance with an express agreement by the partners, or

(c) where the partnership is at will, by giving notice in writing to all the other partners of his intention to retire.

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