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Dissolution of firm in case of death of partner

12 July 2023

Hello friends I have query regarding the dissolution of firm in case of partner's death.
I want to know that if a firm is partnership and have two partners, in case when one partner dies partnership will dissolve, then how should the other partner will run the firm?..

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5 Replies

Shiva Dubey (166 Points)
Replied 12 July 2023

May be you have to convert In proprietor or add more partner

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Mohd Khalid (493 Points)
Replied 12 July 2023

In case of conversion into proprietor what will be the procedure?

Shiva Dubey (166 Points)
Replied 12 July 2023

In dissolution their are two terms
1) dissolution of partnership
2) dissolution of partnership firm

Dissolution partnership means expiry of partnership agreement which is they can renew as per their new terms

Secondly dissolution of partnership firm means shutting down business

The contract comes to end no new sales/service had been done during the situation only the remaining payments or debts will recover...

Case 1

only 2 partners
1 died partnership firma comes to end...

3 partners 1 died new one can join and continue if 2 died from 3 comes to end ..