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CSEET · Business Laws and Management · Elements of Law relating to Partnership and Limited Liability Partnership

Ramesh, a partner in a firm at will, wishes to retire. Which of the following is NOT a way in which he can retire under Section 32(1) of the Indian Partnership Act, 1932?

Giving notice only to the Registrar is not a mode of retirement. Under Section 32(1), a partner may retire with the consent of all other partners, under an express agreement, or, in a partnership at will, by written notice to all the other partners.

  1. AWith the consent of all the other partners
  2. BIn accordance with an express agreement by the partners
  3. CBy giving written notice to all other partners, since the partnership is at will
  4. DBy giving a notice to the Registrar of Firms alone, without informing the other partnersCorrect

Explanation

Section 32(1) allows retirement with the consent of all other partners, under an express agreement, or, where the partnership is at will, by written notice to all the other partners. Notice only to the Registrar is not a mode of retirement. It concerns recording the change under Section 63, not the act of retiring.

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