After death of owner of a sole proprietorship firm is legal heir who is continuing the firm bound to continue ongoing contracts?
2 Replies
Sharath chandra
(Accountant)
(1227 Points)
Replied 20 December 2023
No. legal heir is not responsible for his father's/ mother's contacts.
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 20 December 2023
@ Mr Sunanda,
What is Your exact question...???
For general view,
In case the firm (proprietor) can't register under any act then legal heir can run the business.
But, in case registered then legal heir will follow up based on the provisions of the registration..
What is Your exact question...???
For general view,
In case the firm (proprietor) can't register under any act then legal heir can run the business.
But, in case registered then legal heir will follow up based on the provisions of the registration..
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