Question

Discuss the modes of dissolution of a partnership and explain the grounds on which a court can order dissolution of a firm.

27 Apr 2023
Answer :
Word Count : 527

A partnership is a business relationship in which two or more individuals operate a business together and share its profits and losses. While partnerships can be a great way to start a business, they can also be difficult to manage and sometimes must be dissolved. There are several modes of dissolution of a partnership, including:

1. Dissolution by agreement: A partnership can be dissolved by mutual agreement of all partners. In such cases, the partners will typically agree on a plan for winding up the partnership's affairs, including the sale of assets and the distribution of profits.

2. Dissolution by notice: A partnership can be dissolved by one partner giving notice to the others of their intention to dissolve the partnership. The notice must be given in accordance with the terms ______ _________ _________ __________ _______ _____ ________.
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