Multiple choice

When a partner in a firm is adjudicated insolvent, he

  1. ceases to be a partner

  2. does not cease to be a partner

  3. ceases to be a partner with the consent of all the other partners

  4. ceases to be a partner by an order of the court
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A Correct answer
Explanation

Option (1) is correct: When a partner in a firm is adjudicated insolvent, he ceases to be a partner.

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