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15 June, 07:53

If no fixed duration of the partnership is specified, the partnership is a partnership in perpetuity, which means that the partnership cannot be dissolved.

a. True

b. False

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Answers (1)
  1. 15 June, 08:47
    0
    The answer is b. false.

    In the absence of a partnership agreement on fixed duration, the Partnership Act 1890 may apply.

    Under the Act, a partnership will be automatically dissolved if: a partner dies

    · a partner becomes bankrupt;

    · the court orders it to be dissolved;

    · it's illegal to carry on the business of the partnership;

    · the partnership was created meet a goal and this specific objective or the project is complete; or

    a partner gives notice to dissolve the partnership to the other partners. The
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