[Solved] If a partner is adjudicated insolvent which of the following are the consequences?

Q.	If a partner is adjudicated insolvent which of the following are the consequences?
A.	Ceases to be a partner in the firm on the date the order of adjudication is made.
B.	The estate of the insolvent partner is not liable for the act of the firm even after the date of order of adjudication
C.	The firm stands dissolved on the date of adjudication unless there is a contract to the contrary
D.	All the above
Answer» D. All the above

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Fundamentals of Laws and Ethics

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