Partnership

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 March 2014 one partner out of two partners died recently. So the partnership is dissolved. but the remaining one partner is willing to carry on the business. What to do next to proceed further with the same business ? tell me what are the rights of the legal hier of the deceased partner.?? please consult

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

07 March 2014 Legal Heir can b admitted 2 the partnership. if the Legal heir is minor he should b admitted only 4 the benefit in the partnership. i.e, he will not borne any loss (if arise).

The partnership will b reconstructed & all the new terms will b formed.

Querist : Anonymous

Querist : Anonymous (Querist)

07 March 2014 what if remaining one partner is not willing to run the partnership with the legal hier.?

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

07 March 2014 then he must select another one, it may b sleeping. But at least 2 Partners must b required to start the partnership.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok