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प्रश्न
State the following statement is true:
The firm will be necessarily dissolved, even if a single partner becomes insolvent.
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उत्तर
This statement is false.
Explanation:
According to the Indian Partnership Act, 1932, a partnership firm is not automatically dissolved if a single partner becomes insolvent. While the insolvency of a partner may lead to certain consequences, such as the expulsion of the insolvent partner, it does not necessarily lead to the dissolution of the entire partnership. The firm can continue if the remaining partners agree to do so, and it depends on the terms set out in the partnership deed. In some cases, the firm may carry on business with the remaining partners, or the partnership may be restructured, but it is not a requirement for the firm to dissolve due to the insolvency of a single partner.
