About partnership deed

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RAKESH N SONAGRA (Querist)

18 December 2015 Dear Sir,
On the same day partner is retired and his 2 sons are admitted in partnership and on same day one partner death and his son admitted in partnership firm, weither pass single deed made for the entired issue or two separate deed made for this issue? Please give in which section of partnership it is written?

Amol S Joglekar

Amol S Joglekar (Expert)

18 December 2015 single deed can be made. no problem. (See the problem is.....there is DEATH of one of the partners....check the partnership clauses about continuance of partnership after the death of one of the partners.)

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RAKESH N SONAGRA

RAKESH N SONAGRA (Querist)

18 December 2015 On the same day partner is retired and his 2 sons are admitted in partnership and on same day one partner death and his son admitted in partnership firm, weither pass single deed made for the entired issue or two separate deed made for this issue? Please give in which section of partnership it is written?

Amol S Joglekar

Amol S Joglekar (Expert)

20 December 2015 Nowhere it is written. It is the matter of convenience rather than Act. You mean to do retirement cum death cum admission deed. No issues. You can very well do that. But for the sake of simplicity, list down the even chrnologically, timeframe wise.
say 01. Death
02. retirement of partner etc etc.

See, please try to understand. now you are trying to go into deep details. Good no issues. But in that case, use A B C D etc to denote the people in your query. For example.... Partnership consisting of so and so partners. Mr. A retired on xx/xx/20xx and his sone B and C are admitted and so on so forth. So that the answer will be more accurate. ok?

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