Section 32 of IPA : Section 32: Retirement Of A Partner
IPA
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Explanation using Example
Imagine Rita, Sanjay, and Alok are partners in a firm called 'QuickTech Solutions'. Rita decides to retire from the partnership. According to Section 32 of The Indian Partnership Act, 1932, she can do so in the following ways:
- Rita can retire with the consent of Sanjay and Alok.
- If there is an existing agreement that outlines the procedure for retirement, Rita can retire in accordance with those terms.
- If 'QuickTech Solutions' is a partnership at will, Rita can simply provide a written notice to Sanjay and Alok expressing her intention to retire.
After her r...
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