Get premium membership and access revision papers with marking schemes, video lessons and live classes.

Processing. Please wait.

Circumstances under which a partnership may be dissolved

Answer Text:
Dissolution of partnership.
- A partnership may be dissolved under any of the following circumstances:
(i) A mutual agreement by all the partners to dissolve the business.
(ii) Death, insanity or bankrupting of a partner.
(iii) A temporary partnership on completion of the intended purpose or at the end of the agreed time.
(iv) A court order to dissolve the partnership.
(v) Written request for dissolution by a partner.
(vi) If the business engages in unlawful practices.
(vii) Retirement or admission of a new partner may lead to a permanent or temporary dissolution.
(viii) Continued disagreements among the partners.