Hello aspirant,

A partnership is a contract that allows two or more people to split the earnings from a firm that they all run together, or from any one of them acting on behalf of the others. Reconstitution of the partnership firm refers to any modification to the current agreement.

A partner may opt to retire or leave the company for a variety of reasons, including advanced age, poor health, a shift in the company's line of work, etc. A partner in a partnership at will is free to retire whenever they choose.

Thank you

Hope it helps you.