Is there any requirement to metion about death of partner, if reconstitution deed is drafting due to death of apartner?
2 Replies
rocky
(cA)
(193 Points)
Replied 13 March 2013
it depends on your earlier deed what is mentioned in it
In absence of specific provision in partnership deed, death or insolvency of a partner means dissolution of the firm. However, partnership can provide that the firm will not dissolve in such case it will be continued by remaining partners.
regards
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 13 March 2013
No there is no such requirement to write about the dead partner but if the deed in constituted by the effect of death of the partner hence at the heading...of as below
"This deed of partnership made and executed on this the day of or on after the death of ....at place By and Between...and so on.
may be written so it clearly reflect that the reason of reconstitution or partnership deed.
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