write 4 conditions when a partnership become illigal
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The notice for dissolution must be in writing.....The activities of the firm may become illegal under the changed circumstances.....The trading will be lawful under present conditions.
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dear Pranay, partnership becomes illegal in the following cases;
(1) as per the partnership act of 1932 there is no maximum limit on the number of partners in a firm but as per the section 11 of company act of 1956 the maximum number of partners should not exceed 10 for bank business and 20 for any business in case if the no. of partners exceeds
the aforesaid limit then the partnership becomes illegal
(2) partnerships in smuggling black marketing etc... are illegal business activities and hences the partnership is also illgel
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