partner.—
(1) A partner may retire, (a) with the consent of all the other partners, (b) in accordance with an express agreement by the partners ... reconstituted firm after he had knowledge of the retirement. (3) Notwithstanding the retirement of a partner from a firm, he and the partners continue
were specifically assigned by the erstwhile partners to the continuing partners. He contended that the mode of retirement as well as the method of settling ... retiring partner or an outgoing partner or in the case of death of a partner, all that the outgoing or retiring partner or the estate
retirement and dissolution. The law applicable is the same for both. He then submitted that on the retirement from a partnership, the retiring partner receives ... alleged retirement, no valuation of the assets was done, no profit ascertained and in fact nothing associated with retirement of a partner has been done
partner or retirement of a partner, since, it is the conduct of the surviving partners and not of the partners of partnership. The Taxation Laws ... death/retirement of the partners, the accounts of the firm consisting of four partners were closed. The remaining two partners executed a fresh deed
this case only one
partner retired from the partnership and the remaining partners continued to
be the partners of the firm with revised profit ratio ... distributing assets to partners who retire from the
partnership. Does the asset of the partnership, on being allotted to the
retired partner/partners fall within
inasmuch as upon retirement there is merely an adjustment of his rights and, according to him, retirement of a partner and quantification of his share ... words, he urged that when a partner ceases to be a partner of a firm upon his retirement therefrom there is a partial
partnership or retirement, it is necessary to point out that the two concepts, viz., retirement of a partner and dissolution of partnership, are separately dealt ... consent of all the partners by which two of the partners were allowed to retire leaving the other partners free to do the same business
partner operated to disrupt jural relationship of partners not only between the retiring partner on the one hand and the continuing partners on the other ... partners but merely severs the partnership between the retiring partner and the continuing partners, leaving the partnership amongst the continuing partners unaffected and the firm
between the surviving partners and the legal representatives of the deceased partners, or between the continuing partners and the retiring partner as the case ... retiring partner or an outgoing partner or even in the case of death of a partner, all that the outgoing or the retiring partner
partnership to the continuing partners. They underlined the position that what the partner received, on retirement, was his own share in the partnership which ... retiring partner in favour of the remaining partners and a release by the remaining partners in favour of the retiring partner. The idea of mutual
