Steps involved ...

Upon dissolution, the firm's assets shall be first applied in paying the debts of the firm to third parties, shall thereafter be applied in payment of partners loan, shall be applied in ___________.

The Court may dissolve a firm if a partner _________ commits breach of agreements relating to management of the affairs of the firm or the conduct of the firm's business.

In settling the accounts of a firm after dissolution, losses, including deficiencies of capital, shall be paid _________________.

A, B, C are partners on death of B, A and C continue the firm's business. This is a case of ________.

Identify which of the following statement is true and which is false.
(I) The Court may dissolve a firm if a partner conducts himself in such a way that if is not reasonably practicable for the other partners to carry on business in partnership with him.
(II) If the firm has been continuously suffering losses and it is apparent that in future also the business cannot be carried on except at a loss, the Court cannot order dissolution of the firm
Select the correct answer from the options given.

In which of the following case, the Court may, at the suit of a partner. dissolve a firm?

In which of the following situations the firm will NOT be compulsorily dissolved?

In which of the following case the dissolution of partnership takes place even when there is no dissolution of the firm?

Firm may be dissolved :
A. With the consent of all the partners.
B. In accordance with the contract between them.
Select the correct the answer from the options given.

__________ rule is applicable at the time of any partner becoming insolvent.