Legal Question in Business Law in India
dissolution of partnership
We have a partnership deed at will. We had some dispute with one of my partner so we decided to break the partnership. I wanted to dissolve the partnership but my partner say that he will retire as a partner. Is both the same? Will i have to give him my profit share or any incentive in future in case of retiring him as a partner.?
4 Answers from Attorneys
Re: dissolution of partnership
YES both are same as if the partnership agreement does not provide otherwise than the firm will automatically dissolve on retirement of one partner. You only have to pay any dues outstanding till date to him.
Re: dissolution of partnership
Yes both are same.
You need to pay outstanding dues till date.
Re: dissolution of partnership
Yes both are same.
You need to pay outstanding dues till date.
Re: dissolution of partnership
Yes both are same.
You need to pay outstanding dues till date.
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