Dissolution by the court, Business Law and Ethics

Assignment Help:

Dissolution by the Court

Conversely Section 39 of the Act prescribes the state of affairs that the court will decree the compulsory dissolution about a partnership. They are: like;

(a) Lunacy or unsoundness of mind

A partner becomes a lunatic or may of permanently unsound mind there.

(b) Permanent incapacitation

A partner becomes permanently incapable of performing his such partnership duties.

(c) Prejudicial acts of a partner

A partner has acted in a manner that is prejudicial to the carrying at of the firm's business, and his such continued association with the firm would that bring the firm's name in disrepute.

(d) Wilful and continuous breach


A partner is guilty of a wilful breach about the partnership contract.

(e) Losses

The firm's business can carried on only on a loss.

(f) Just and equitable

Any circumstances arise that render it fair and reasonable that the partnership is such dissolved. Therefore in Re Yenidge Tobacco Co., the partners rejected to speak to each other then like one partner petitioned the Court to a dissolution that was granted. However a state of communal hostility is incompatible with such partnership.


Related Discussions:- Dissolution by the court

What do you mean by electrolysis, Q. What do you mean by Electrolysis? ...

Q. What do you mean by Electrolysis? In electro refining, the impure metal is taken as the anode and a strip of pure metal coated with a thin layer of graphite is made .the cat

Disadvantage of a scheme of arrangement, Disadvantage of a scheme of arrang...

Disadvantage of a scheme of arrangement: The disadvantage of a scheme of arrangement is that it requires the preparation of elaborate documents and the observance of a strict

Chairman - meetings and resolutions, PROXIES - meetings and resolutions: ...

PROXIES - meetings and resolutions: By S.136(1), any member of a company entitled to attend and vote at a meeting of the company shall be entitled to appoint one more person (

Find the murderer, Your first big case is a multiple murder. As defense att...

Your first big case is a multiple murder. As defense attorney for SyKopath, you have come to the realization that he really did break into a couple's home and torture and kill them

Determine the deciding factor with respect to legislature, Determine the de...

Determine the deciding factor with respect to legislature Party with most votes has been in control of the legislature, so the deciding factor with respect to legislature is th

Distinguish between industrial and employee relations, Question 1: (i) ...

Question 1: (i) Distinguish between industrial relations and employee relations. (ii) State the environmental factors that affect employee relations. (iii) Give five r

State article 24 and 25 of air and outer space law, State Article 24 and 25...

State Article 24 and 25 of air and outer space law Article 24 states that the aircraft on a flight to, from, or across the territory of another contracting State shall be admit

Define the term- international implications of enforcement, Define the term...

Define the term- international implications of enforcement Agencies cooperate over time, they converge towards common principles that might then serve as the foundation for the

Manage the currency risks using the futures contract, Question 1: (a) "...

Question 1: (a) "A tourist resort which does business in a single currency is not exposed to currency risk." Discuss (use example to support your answer). (b) Case: Hedging

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd