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When a partner of a firm is adjudicated as an insolvent, he ceases to be a partner as _______.
  • a)
    On the date of order of adjudication 
  • b)
    On the date of dissolution 
  • c)
    On the date of information of insolvency 
  • d)
    Decided by Indian partnership firm
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
When a partner of a firm is adjudicated as an insolvent, he ceases to ...
Insolvency of a partner
Where a partner in a firm is adjudicated an insolvent he ceases to be a partner on the date on which the order of adjudication is made, whether or not the firm is hereby dissolved.

Where under a contract between the partners the firm is not dissolved by the adjudication of a partner as an insolvent, the estate of a partner so adjudicated is not liable for any act of the firm and the firm is not liable for any act of the insolvent, done after the date on which the order of adjudication is made.
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When a partner of a firm is adjudicated as an insolvent, he ceases to be a partner as _______.a)On the date of order of adjudicationb)On the date of dissolutionc)On the date of information of insolvencyd)Decided by Indian partnership firmCorrect answer is option 'A'. Can you explain this answer?
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When a partner of a firm is adjudicated as an insolvent, he ceases to be a partner as _______.a)On the date of order of adjudicationb)On the date of dissolutionc)On the date of information of insolvencyd)Decided by Indian partnership firmCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about When a partner of a firm is adjudicated as an insolvent, he ceases to be a partner as _______.a)On the date of order of adjudicationb)On the date of dissolutionc)On the date of information of insolvencyd)Decided by Indian partnership firmCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for When a partner of a firm is adjudicated as an insolvent, he ceases to be a partner as _______.a)On the date of order of adjudicationb)On the date of dissolutionc)On the date of information of insolvencyd)Decided by Indian partnership firmCorrect answer is option 'A'. Can you explain this answer?.
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