NOTES


CA-Foundation > Business Laws > The Indian Partnership Act, 1932 - Reconstitution and Dissolutions of a firm >

The Indian Partnership Act, 1932 - Reconstitution and Dissolutions of a firm Notes

Q1. What do you mean by the “dissolution of the firm”?

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Q2. Distinguish between: “Dissolution of partnership” and “dissolution of partnership firm”.

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Q3. Simon, Allen and Cajetan are partners. Cajetan is a sleeping partner who has not been known by creditors to be partner of Simon and Allen. Cajetan retires without giving the public notice of his retirement. Is Cajetan liable for subsequent debts incurred by Simon and Allen?

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Q4. Anish, Raj, Simon, Dilip and Eshan are partners in a firm. They decided to dissolve the firm from 1st January, 2006 but failed to give a public notice of its dissolution and continued the business of the firm even after that date. Dilip died on 5th January 2006 and Eshan was declared insolvent on 10th January, 2006. On 11th January 2006, Anish borrowed in the firm's name 20,000 from Rohan who was ignorant of the dissolution. Discuss the liability of partners.

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Q5. State the cases when Public notice is required to be given as per Partnership Act.

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