When can a partner retire from the firm? What are the effect of retirement of a partner on the firm ?
Answers
Answered by
4
Answer:
The Supreme Court stated that on retirement of a partner, the reconstituted firm would continue and the retiring partner would be paid his dues in terms of Section 37 of the Act. In the case of dissolution of a partnership firm, the accounts would have to be settled and distributed as per Section 48 of the Act
Explanation:
I hope it helps u
Have a great day
Make me brilliant
Similar questions