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Change of Partners
Relationship between Partnership
Cessation of Partnership
Method of Cessation of Partnership
Following the factors or reasons due to which partnership can be dissolved:
- Death of a partner.
- If partner themselves dissolved the partnership.
- Partner had been declared unsound mind by court.
- Partner has been declared as an insolvent or applied to be adjudged as an insolvent.
- Dissolution of LLP.
- In absence of LLP Agreement, Partner must give notice to other partners atleast 30days before his/her intention of resignation.
Effective date of Cessation of Partnership
Person is ceased to be the partner if anyone of the two below mentioned conditions satisfied: