Dissolution by the court occurs for reasons like insanity, misconduct, or persistent breach of agreement by a partner. When all partners mutually consent to dissolve, it becomes dissolution by agreement, not by court order.
A firm may not be dissolved by court in the following condition :
Held on 20 Jul 2022 · Verified 13 Jul 2026.
When a partner becomes permanently incapable of performing his duties as a partner.
When a partner is guilty of misconduct which is likely to adversely affect the business of the firm.
When a partner persistently commits breach of partnership agreement.
When all the partner give their consent for dissolution.
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An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.