Partnership firm
2 years ago
If in case one of the partner dies due to COVID in partnership firm (Normal Partnership firm, not LLP), What happens?
Ankur Goel @ Complete Law Shield
Responded 2 years ago
A.if only 2 partners then it is dissolved.
if more than 2 partners then remaining partners can induct new partner as per partnership deed.
if more than 2 partners then remaining partners can induct new partner as per partnership deed.
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A.Hi,
The partnership will be terminated legally if there were just two partners and the shares will go to the legal heirs or as per the will, if any. If there were other partners as well you can continue and amend the deed.
If you find this answer helpful, please rate my answer. Thank You.
The partnership will be terminated legally if there were just two partners and the shares will go to the legal heirs or as per the will, if any. If there were other partners as well you can continue and amend the deed.
If you find this answer helpful, please rate my answer. Thank You.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
The shares of the partner will go to their legal heirs. If you want to continue the business, amend the firm after taking consent of legal heirs of the deceased partner and continue as a sole proprietor.
If you find this answer helpful, please rate my answer. Thank You.
The shares of the partner will go to their legal heirs. If you want to continue the business, amend the firm after taking consent of legal heirs of the deceased partner and continue as a sole proprietor.
If you find this answer helpful, please rate my answer. Thank You.
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A.Dear Sir
As per the terms of deed its business has to be closed or to be run in the capacity of proprietorship firm.
As per the terms of deed its business has to be closed or to be run in the capacity of proprietorship firm.
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Sidhaarth
Responded 2 years ago
A.If there are two partners only and if one partner dies then partnership shall stand terminated/dissolved by implication of law and the share of partner shall devolve to his legal heir. If there are more than two partners then partnership firm shall continue and subject to the term of partnership deed a new partner can be inducted.
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A.If there were only two partners then the firm ceases to exist hence either you close down the firm or replace the partner with his legal heir or some body else.
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Ankita Jaiswal
Responded 2 years ago
A.Amend the partnership firm, notice send to ragarding this registration office, if u like my ans PlZ rate my ans *****, thanks
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