Dissolution of Partnership Quiz

What does the term 'dissolution of a partnership' refer to?

• Ending the partnership

• Starting a new partnership

• Changing partners

• Increasing profits

According to S.34(1), a partnership entered into for a fixed term is dissolved by what event?

• Change of partners

• Expiration of that term

• Notice from a partner

• Death of a partner

What happens to a partnership if one partner dies, according to S.35(1)?

• It must be reformed

• It is automatically dissolved

• It continues as usual

• It can only continue with the deceased's family

Which of the following is a reason for automatic dissolution of a partnership?

• Increase in profits

• Change in management

• Supervening illegality

• Change in business location

What is required for a partner to dissolve a partnership at will?

• No notice required

• Written notice

• Verbal agreement

• Notice to all partners

In the case of Subramaniam Chettiar v Kader Mastan, what was determined about notice of intention to retire?

• It can be inferred from conduct

• It is not necessary

• It can be verbal

• It must be communicated to other partners

Under what condition can a court order the dissolution of a partnership due to mental disorder?

• If the business is not profitable

• If partners disagree

• If one partner is found lunatic

• If one partner is absent

What does S.37(c) allow the court to do?

• Dissolve a partnership if partners agree

• Dissolve a partnership for any reason

• Dissolve a partnership for conduct prejudicial to the business

• Dissolve a partnership if profits increase

Which of the following is an example of conduct prejudicial to the partnership business?

• A partner's personal issues

• A partner being absent

• Disagreements among partners

• Misuse of client funds

What must be proven for a court to dissolve a partnership on just and equitable grounds?

• The partnership is profitable

• Partners have minor disagreements

• Confidence between partners is lost

• Partners are in agreement