Hello ld. members of the bar..
IF a firm has 3 partners and 2 of them retire thereby, resulting in reconstitution of the firm, can the surviving single partner run the business as partnership firm ?. It requires 2 parties to form partnership, but can a single party run the firm after that, atleast by a clause in the deed of reconstitution ?.
I thought it cannot be done, but recently i came across a format of deed of reconstitution of partnership which says that the sole survivor can run the business.
For convenience, here is the link. Please go through the 10th clause and clarify...