Indian Partnership Act, 1932

42. Dissolution on the happening of certain contingencies

Subject to contract between the partners a firm is dissolved-

1. if constituted for a fixed term, by the expiry of that term;
2. if constituted to carry out one or more adventures or undertakings, by the completion thereof;
3. by the death of a partner; and
4. by the adjudication of a partner as an insolvent.

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