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Question 28 of 35

Q.What is meant by retirement of a partner ?

Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2025Subjective· 2mImportance★★★★★
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Retirement of a partner is when a partner leaves/withdraws from the firm and stops being a partner, while the firm continues with the remaining partners.

A partner may retire:

  • With the consent of all the other partners, or
  • In accordance with an express agreement among the partners, or
  • Where the partnership is at will, by giving written notice to all partners. …
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