Illegality of business operations triggers dissolution of partnership, except where illegality is confined to separate lawful adventures. A partnership is compulsorily dissolved when an event renders it unlawful for the firm's business to be carried on or for the partners to carry it on in ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Illegality of business operations triggers dissolution of partnership, except where illegality is confined to separate lawful adventures.
A partnership is compulsorily dissolved when an event renders it unlawful for the firm's business to be carried on or for the partners to carry it on in partnership; however, illegality confined to one or more separate adventures of a multi-venture firm does not automatically dissolve the firm as to its lawful adventures. A former clause on adjudication of partners as insolvent was omitted by later enactment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.