Section 42 of the Indian Partnership Act, 1932 – Dissolution on the happening of certain contingencies

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Section 42: Dissolution on the happening of certain contingencies

Subject to contract between the partners a firm is dissolved–

  • (a) if constituted for a fixed term, by the expiry of that term;
  • (b) if constituted to carry out one or more adventures or undertakings, by the completion thereof;
  • (c) by the death of a partner; and
  • (d) by the adjudication of a partner as an insolvent.

Source: official text of The Indian Partnership Act, 1932 as published on India Code (PDF). All sections of the Indian Partnership Act, 1932.

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