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Under Section 42, subject to contract, a firm may be dissolved on the happening of which contingency?
AExpiry of the fixed term, completion of the venture, or the death/insolvency of a partner
BPersistent breach of agreement
CA partner's misconduct
DA deadlock in management
Answer & Solution
Correct answer: A. Expiry of the fixed term, completion of the venture, or the death/insolvency of a partner
Section 42 lists contingencies (subject to contract): expiry of term, completion of the adventure, and death or insolvency of a partner.
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