Multiple choice

The heir of the deceased partner

  1. has a right to become a partner in the firm of the deceased partner even without the consent of other partners

  2. does not have a right to become a partner in the firm of the deceased partner

  3. can become a partner in the firm of the deceased partner only if the surviving partners give their consent in this regard

  4. both (1) & (3)

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A partnership is a relationship based on mutual trust and consent. When a partner dies, the heir does not automatically become a partner - partnership is personal and requires the consent of all partners. The heir can only be admitted if the surviving partners unanimously agree to admit them. The estate of the deceased partner has a right to the deceased's share of assets and profits, but the heir cannot step into the deceased's role without the consent of the continuing partners. This protects the firm's continuity and the personal nature of partnership relationships.