List the grounds on which court may dissolve a firm.
Dear Student
A Partnership firm can be dissolved by the Court of Law under several circumstances, two of them are listed below ;
1. When a partner becomes lunatic,
2. When the partnership firm is carrying illegal business as per law then firm may be penalized and even dissolved.
3. When the firm becomes bankrupt and partners are also insolvent to carry on business.
4. When partners are dead due to any circumstance or accident.
5. When according to court it is justified to dissolve the firm.
Regards