Question ID : 28488

Remedies

Sir In Partnership Firm one of the partners expired and the heirs of the said partner are not prepared for the new papersdeed." That, on the retirement or death of any Partner the business of the firm will not be disturbed nor the operations of the bank account be disturbed. The share of the retired deceased partner will be transferred to the legal heirs" Please advise whether any problem will arise in the later period Actually the firm is closed and amount of compensation for the acquisition of the land is to be received