Question : Dissolution by agreement implies ——-
Option 1: Firm is dissolved with consent of all partners
Option 2: Firm is dissolved in accordance with contract between the partners
Option 3: Firm is dissolved by the partnership Deed
Option 4: Both (1) and (2)
Answer (1)
23rd Jan, 2024
Correct Answer: Both (1) and (2)
Solution : A dissolution agreement is a formal instrument that dissolves or annuls a contract. Then the agreement's two parties go back to the state of affairs that existed before to the signing of the original contract.
Hence the correct answer is option 4.
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