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When does a partnership become illegal?

Partnership becomes illegal in the following circumstances:

  • When the number of partners are reduced and becomes less than two.
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  • When the maximum number exceeds the prescribed limit as per act. That means maximum 20 in general partnership and 10 in banking case.
  • When all partners except one have been declared insolvent.
  • When the business is established for some illegal purpose.
  • When the trade is declared illegal by the court of law.
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