Pre. Exam

5. Subject to contract between the partners, a firm is dissolved:

(a) if constituted for a fixed term, by the expiry of that term
(b) if constituted to carry out one or more adventures or undertakings, by the completion thereof
(c) by the death of a partner
(d) all the above

Answer and Notes Answer is D

Explanation: Section 42 of Indian Partnership Act provides for dissolution of firm on the happening of certain contingencies. Grounds mentioned in clauses (a), (b) and (c) of the question are given in section 42. Hence option (d) is correct.