Dissolution of a Partnership firm
The dissolution of a partnership firm means termination of every contractual
relationship between the partners and that all the operations which are being
performed in a company are suspended and all the assets and liabilities are
settled and disposed off.
The partnership may be dissolved due to the following reasons:
1. Due to the death of the partner.
2. Due to the admission of a new partner.
3. Due to the retirement of a partner.
4. Due to the bankruptcy of a partner.
5. Due to the expiry of the partnership period, if the partnership is for a
particular period.
