Multiple choice

Under Section 42 of the Partnership Act, a firm may be dissolved on the happening of certain contingencies, subject to contract between the partners. Which of the following is not such a contingency?

  1. Expiration of the partnership firm

  2. Completion of business

  3. Death or insolvency of a partner

  4. A partner becoming lunatic

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Where a partner becomes a lunatic due to any reason, the firm is not entitled to be dissolved.

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