IPTA 42 — Dissolution on the happening of certain contingencies

Indian Partnership Act, 1932

Statutory text

Subject to contract between the partners a firm is dissolved—

(a) if constituted for a fixed term, by the expiry of that term;

(b) if constituted to carry out one or more adventures or undertakings, by the completion thereof;

(c) by the death of a partner; and (d) by the adjudication of a partner as an insolvent.

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