Law Maker

CHAPTER VI DISSOLUTION OF A FIRM

Section 42: Dissolution on the happening of certain contingencies

The Indian Partnership Act, 1932

Subject to contract between the partners a firm is dissolved—

(a) if constituted for a fixed term, by the expiry of that term;

(b) if constituted to carry out one or more adventures or undertakings, by the completion thereof;

(c) by the death of a partner; and

(d) by the adjudication of a partner as an insolvent.

Leading cases

Practise questions on Partnership and Sale of Goods Acts