Business Studies · Indian Partnership Act
Under the Indian Partnership Act, 1932, a retiring partner continues to be liable to third parties for obligations incurred after his retirement unless:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1He ceases to draw any profit from the firm
- 2He starts a competing business elsewhere
- 3A public notice of his retirement is given✓
- 4The unpaid amount due to him is transferred to his loan account
Correct answer
A public notice of his retirement is given
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