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Certain consequences of dissolution
In case of dissolution of firm the partner is entitled to have the property realized and then apply the payment of debts. The surplus amount gets distributed among all other partners according to rights.
In effect of dissolution of partnership assignment help you will also get to know about the liability of dissolved firm. Personal profit cannot be made through transaction related to firm.
The partner has to pay a premium while entering into partnership for any fixed term. The company gets dissolved before expiration of term.
The dissolution can occur in case of:
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Disposing a business in case of dissolution
In case of death of a partner or bankruptcy, the dissolution of partnership may take place. the other partner do not have to buy the share of outgoing partner as the partnership will get dissolved and the business needs to be sold.
It is suggested to sell to going concern and the partnership will be eligible to sell it on goodwill. Effect of dissolution of partnership assignment help will give knowledge about the process of sale of business:
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