| Commentary

84 Bankruptcy and death

| Commentary

84 Bankruptcy and death

The default code in the Partnership Act 1890 provides that the bankruptcy or death of a partner leads to the dissolution of the partnership1. As with retirement2, this rule is subject to contrary agreement and, as dissolution will usually be very inconvenient in either of these cases, it is conventional to include a clause in the partnership agreement that the partnership will continue, unless the death or retirement means that there is only one partner left. The bankruptcy of a partner may however prove particularly disruptive to the running of the partnership business. In an attempt

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