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Assertion (A): Retirement of partner is legal when done at will and with the consent of the other partners. -

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Question

Assertion (A): Retirement of partner is legal when done at will and with the consent of the other partners.

Reason (R): According to Section 32 (1) of the Indian Partnership Act, 1932, "a partner may retire from the firm with the consent of all the partners or at his will, by giving written notice to all the other partners of his intention to retire."

Options

  • Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).

  • Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).

  • Assertion (A) is true, but Reason (R) is false.

  • Assertion (A) is false, but Reason (R) is true.

MCQ

Solution

Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).

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