Explain the ways in which a Partnership may be dissolved without a court order

Explain the ways in which a Partnership may be dissolved without a court order.

ANSWER

1. Performance of the undertaking.
2. Completion of the undertaking
3. Lapse of time-if the duration is fixed.
4. At will: – a partner notifies the others of his intention to have the firm dissolved.
5. Mutual consent. If all partners agree.
6. Death of a partner. Unless the partnership deed otherwise provides.
7. Bankruptcy of a partner. Unless the partnership deed otherwise provides.
8. Illegality: if the firms business becomes illegal reason of change of law.
9. Charging of a partners a court order for a private debt.