- 20 Marks
BCL – L1 – Q65 – Partnership dissolution
Explain reasons for refusing partnership registration, modes of winding up, asset application, and partner liability.
Question
SUNDRY ISSUES
(a) What may account for the Registrar refusing to register a partnership agreement?
(b) State three modes of winding up of a firm and indicate who can initiate each.
(c) State how assets of a partnership are applied after winding up.
(d) State briefly the nature of a partner’s liability.
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