NOTES


CA-Foundation > Business Laws > The Indian Partnership Act, 1932 - Reconstitution and Dissolutions of a firm (Old & New)

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



Ans.

The Partnership Act requires that a public notice must be given in each of the following cases:

(a) On minor attaining majority

A minor partner on becoming a major must give public notice of his intention to remain or not to remain a partner. [Sec. 30(5)]

(b) Retirement of a partner

When a partner retires from the firm, he must give public notice to terminate further liability. [Sec. 32(3)]

(c) Expulsion of a partner

When a partner is expelled from the partnership business he must give public notice to terminate further liability. [Sec. 33]

(d) Dissolution of the firm

When a partnership firm is dissolved, the partners of the dissolved firm must give public notice to terminate further liability [Section 45(1)]


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Notes of The Indian Partnership Act, 1932 - Reconstitution and Dissolutions of a firm (Old & New)



  1. What do you mean by the “dissolution of the firm”?
    see in detail

  2. Distinguish between: “Dissolution of partnership” and “dissolution of partnership firm”.
    see in detail

  3. 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?
    see in detail

  4. 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.
    see in detail

  5. State the cases when Public notice is required to be given as per Partnership Act.
    see in detail


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