Explain the ways in which a Partnership may be dissolved without a court order

Explain the ways in which a Partnership may be dissolved without a court order.

ANSWER

  1. Performance of the undertaking.
  2. Completion of the undertaking
  3. Lapse of time-if the duration is fixed.
  4. At will: – a partner notifies the others of his intention to have the firm dissolved.
  5. Mutual consent. If all partners agree.
  6. Death of a partner. Unless the partnership deed otherwise provides.
  7. Bankruptcy of a partner. Unless the partnership deed otherwise provides.
  8. Illegality: if the firms business becomes illegal by reason of change of law.
  9. Charging of a partners by a court order for a private debt.

 

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