Multiple choice

In case of insolvency of a partner,

  1. no public notice is needed to terminate his liability

  2. he ceases to be a partner on the date on which the order of adjudication is made, whether or not the firm is thereby dissolved

  3. his position is different from that of a retired or expelled partner

  4. All of the above

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

Public notice is not mandatory in case of insolvency of a partner. An insolvent partner ceases to be a partner and retired partner and insolvent partner are different in position. Hence, all are correct.

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