Amendment status not verified — confirm the current text below against the official source.
Dissolution by agreement : A firm may be dissolved with the consent of all the partners or in accordance with a contract between the partners. short notes -Sec 40 - Firm can be dissolved with consent of all the partners or according to contract between the partners - Al 1971 SC 1653 : (1970) 2 SCC 724, AIR 1990 All. 171. Sec. 40 - Suit filed after 3 years of execution of dissolution deed for rendition of account is barred by limitation - Madan Lal vs. Shiv Narain, 1986(1) CCC 464.