Can we add a clause in partnership deed regarding who will take over if one of the partner dies?basically who will replace the deceased partner. Can we mention a clause in the current partnership deed about it?
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DECEASED PARTNER - PARTNERSHIP DEED
Replies (4)
Yes it can be mentioned
Yes , I think it is possible,
Please reffer to sec 42 of Indian partnership act.....
If there are more than 2 partners....then it is possible...either nominee or legal hair ( subject to the intention of agreement in deed)
But
if there are only 2 partners, then firm is dissolved ,on demise of one
please go through Indian Partnership Act
If there are more than 2 partners....then it is possible...either nominee or legal hair ( subject to the intention of agreement in deed)
But
if there are only 2 partners, then firm is dissolved ,on demise of one
please go through Indian Partnership Act
Yes mahesh ji... thanks for the information
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