Law · Commercial Law
In corporate and commercial law, which statement correctly describes the relationship between the 'dissolution of partnership' and the 'dissolution of a partnership firm'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Dissolution of partnership inevitably means the immediate dissolution of the firm
- 2Dissolution of a firm always involves the dissolution of the partnership, but dissolution of a partnership does not necessarily dissolve the firm✓
- 3Both concepts are completely synonymous and interchangeable under all conditions
- 4Neither process is legally recognized under the Indian Partnership Act
Correct answer
Dissolution of a firm always involves the dissolution of the partnership, but dissolution of a partnership does not necessarily dissolve the firm
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