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Home Accounting Dictionary Letter C Compulsory Dissolution Definition
 
 

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Compulsory Dissolution Definition:

A firm is compulsory dissolved:

  • by the adjudication as insolvent of all the partners or of all the partners but one, or
  • by the happening of any event which makes it unlawful for the business of the firm to be carried on or for the partners to carry it on in partnership.
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