Question

Explain five circumstances under which a partnership may be dissolved

Answer 1

1. When there are changes in law i. e where the operations of the partnership are illegal
2. Where there is persistent losses in operation making it difficult to meet its financial obligations
3. In case of one or some of the partners request in writing for the dissolution and therefore abiding to their wish
4. In case the partnership business is temporary and has accomplished the purpose
5. Where there is continued disagreement among the partners : making the operation/continuation of business impossible
6. Where the court order for the dissolution: order must be complied with loss of contractual capacity of the partner –bankruptcy, insanity
7. Admission/withdrawal/retirement of a partner-changes the composition of the partnership