SELECT * FROM question_mgmt as q WHERE id=1409 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=3 AND subId=11 AND chapterId=137 and ex_no='1' AND status=1 ORDER BY CAST(question_no AS UNSIGNED)

Question:

What are the different ways in which a partner can retire from the firm?

Answer:

The following are the different ways in which a partner can retire from a firm.

(i) With the consent of all other partners: A partner must take the consent of all the co-partners of the firm before his/her retirement. Thereafter, the partner can retire from the firm if and only if all the partners agree on the decision of his/her retirement.

(ii) With an express agreement by all the partners: In case of written agreement among the partners a partner may retire from the firm by expressing his/her intention of leaving the firm though a notice to the other partners of the firm.

(iii) By giving a written notice: If partnership among the partners is at will then a partner may retire by giving notice in writing to all the other partners informing them about his/her intention to retire.


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