hi lets discuss about parnership firm.
If A&B are sharing P&L in the ratio 55:45. now A decided to continue as a Sole trading concern. As per the valuation B's share value is1,38,000. now my query is..... A decide to give 1lac+38000(i.e 30%of some selected bills reciveable). I mean to say is A is ready to give1lac + some bills receivables to B . pls tell me.. is A's decision is acceptable r not as per partnership act.
Liability towards a retiring partner shall be made as per his direction if partnership deed is silent about it :)
But do make sure that partnership deed doenst contain any clause in contrary :)
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