Multiple choice

The type of dissolution of the frim in the case of death of a partner is

  1. Contigent Dissolution

  2. Dissolution by Notice

  3. Dissolution by Agreement

  4. None of these

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A Correct answer
Explanation

A firm is dissolved by contingent dissolution on the death of a partner as the death of a partner is happening of an event. Contingent dissolution is used to dissolve the firm in case of happening of an event like death of a partner, partner becoming insolvent etc.