Multiple choice

Garner V. Murray case is applicable in case of

  1. insolvency of partners

  2. solvency of partners

  3. dissolution by will

  4. none of these

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A Correct answer
Explanation

Garner V. Murray case is applicable in case of insolvency of partners. As per ruling of this case, the solvent partners must make up the deficiency of insolvent partners in the ratio of their capital which stands to the credit of their account just before dissolution.