rakkesh
asked almost 4 years ago
Does the death of a partner dissolve the partnership firm?
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narahari
answered over 3 years ago
Dissolution of a partnership firm merely involves a change in the relation of partners; whereas the dissolution of firm amounts to a complete closure of the business. When any of the partners dies, retires or become insolvent but if the remaining partners still agree to continue the business of the partnership firm, then it is dissolution of partnership not the dissolution of firm.
