In case of partnership at will, a retiring partner has to give a written notice —

Related MCQs

• Notice to a partner operates as notice to the firm. For such purpose, notice may be given to:
• A partnership may be dissolved by any partner by giving a notice to other partners in case of:
• Under section 97, of the Negotiable Instruments Act when the party to whom notice of dishonour is dispatched is dead, but the party despatching the notice is ignorant of his death, the notice is
• Identify the incorrect statements: (1) When a firm is constituted for a fixed duration it cannot be dissolved before the expiry of that duration. (2) A partnership at will can be dissolved by the wish of even a single partner. (3) When a partner of a firm becomes lunatic, the firm dissolves automatically. (4) Even after dissolution, partners of a firm continue to be liable for acts of the firm until the affairs of the firm are finally wound up. Code:
• Where no time is expressly stated for its duration and there is no contract to fix the duration, the partnership may be terminated at a moment's notice by the other party. This partnership is called -
• Retiring partner continues to remain liable to third parties for acts of the firm :—
• A notice in writing by one partner must be given to all the partners of the firm in case of:
• The term 'partnership' has been defined under…………of the Partnership Act, 1932:
• On attaining majority when the minor partner elects not to become a partner, his share is not liable for any acts of the firm done —
• To avoid liability to third parties, public notice of retirement should be given. Such public notice must be given—