Question

Mention any two circumstances which can lead to dissolution of partnership.

Answer 1

The partnership is deemed to have been dissolved in any of the following cases:

1. In case of expulsion of a partner
2. In case of expiry of the period of partnership
3. In case of death of a partner
4. In case of change in the profit-sharing ratio of the existing partners
5. In case of retirement of a partner
6. In case of insolvency of a partner
7. In case of admission of a new partner