Expulsion of a partner:
A partner may be expelled from partnership subject to the following three condition:
1.the power of expulsion of a partner should be conferred by the contract between the partners.
2.the power should be excersiced by a majority of the partners.
3.the power should be excersiced in good faith.
Insolvency of a partner:
Where a partner in affirm is adjudicated insolvent, he cases to be partner on the date on which the order of adjustication is made, whether or not the firm is thereby dissolved.
Death of partner:
Subject to contract between the partners, a firm is dissolved by the death of a partner where under a contract between the partners the firm is not dissolved by the death of a partner.
Transfer of a partners intrest:
A partner may transfer his intrest in the firm by sale, mortage or charge. The transfer may be absolute or partial. It does not however entile the transfere.
A partner may be expelled from partnership subject to the following three condition:
1.the power of expulsion of a partner should be conferred by the contract between the partners.
2.the power should be excersiced by a majority of the partners.
3.the power should be excersiced in good faith.
Insolvency of a partner:
Where a partner in affirm is adjudicated insolvent, he cases to be partner on the date on which the order of adjustication is made, whether or not the firm is thereby dissolved.
Death of partner:
Subject to contract between the partners, a firm is dissolved by the death of a partner where under a contract between the partners the firm is not dissolved by the death of a partner.
Transfer of a partners intrest:
A partner may transfer his intrest in the firm by sale, mortage or charge. The transfer may be absolute or partial. It does not however entile the transfere.
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