When Court may dissolve partnership

In this forum we will give laws, details, discussion, rulings, Act and much more about the liabilities, duties of the partners in the partnership business, formation and dissolution of the partnership.

When Court may dissolve partnership

Unread postby Admin » Thu Jan 24, 2013 2:08 pm

When Court may dissolve partnership:
At the suit of a partner the Court may dissolve the partnership in the following cases:-
(1) when a partner becomes of unsound mind;
(2) when a partner, other than the partner suing, has been adjudicated an insolvent under any law relating to insolvent debtors;
(3) when a partner, other than the partner suing, has done any act by which the whole interest of such partner is legally transferred to a third person;
(4) when any partner becomes incapable of performing his part of the partnership contract;
(5) when a partner, other than the partner suing, is guilty of gross misconduct in the affairs of the partnership or towards his partners;
(6) when the business of the partnership can only be carried on at a loss.
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