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Joint Family Business can sister ask to dissolve the firm
18-Apr-2023 (In Family Law)
Sir, My brother-in Law (Jeeja) was doing hardwar & Tool business with his brothers. Unfortunately he died, having no Son, only daughters married, wife house wife. Business is in Crores have shops & Goodwons. Now brother say it is there whereas he was elder in the family. Is my sister become partner in place of her demise husband as legal heirs/successor. She do not have details of Bank Accounts, which are still in operation. Can my sister ask to dissolve the firm, sell the shops, count of stock in hands in crores to get her share in the capacity of legal heirs. The Shops are in Delhi. Please advice on my e-mail [email protected] (9990394120) Grover
If there was a clause in the partnership deed relating to the transfer of rights and liabilities of a partner to his legal heir upon his death then, she can hold the position of the deceased partner and if there was no such clause then, When the deed of partnership did not provide that the death of a partner would not dissolve the partnership, the partnership stood dissolve on the death of a partner. Firm, stands dissolved automatically on death of one partner. Continuance of business after such death would not tantamount to continuance of earlier partnership. Also, as his wife has took over his position after his death, and she wants to dissolve the partnership then, as per Section 43, In case of partnership at will, a partner can dissolve it by giving written notice of dissolution to other partners duly signed by him. Notice must be very clear and certain. A notice once given cannot be withdrawn without the consent of other partners. In those cases where a partner has given notice of dissolution at a time when dissolution will give him some advantage over the other partners, he may be held in the firm till the pending transactions are completed.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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