After death of a partner can his wife or his legal heir be a partner of that partnership firm As per Partnership Act 1932?
Section 42(C) of Partnership Act 1932 talks about ‘Dissolution of firm on the death of a partner.’
If there is no contract to the contrary then partnership firm automatically dissolves on the death of a partner.
Section 42 mentions certain contingencies of which the firm is dissolved, unless there is a contract to the coutray. Unlike the dissolution under section 41, which is compulsory, the dissolution contemplated under section 42 is not compulsory,
Section 42 in The Indian Partnership Act, 1932
Dissolution for partnership firm on the happening of certain contingencies.—Subject to contract between the partners a partnership firm is dissolved,
(a) Expiration of the partnership term- if constituted for a fixed term, by the expiry of that term;
(b) Completion of the adventure -if constituted to carry out one or more adventures or undertakings, by the completion thereof as per partnership deed ;
(c) Death of a partner - by the death of a partner; and
(d) Insolvency of a partner -by the adjudication of a partner as an insolvent.
