Dissolution of partnership meaning the end of the partnership and an end of the business as well, there are so many reasons that can lead the partnership to an end and the business can be carried out further more / any longer, the reasons behind them can be:
Expiry of the Period: Each partnership deed is written down and its conditions are written in the conditions the sharing of profit and sharing of loss, the time given to business by particular partner and the time duration of the partnership is written down.
The maturity of the tenure of the partnership deed can lead the partnership to an end , if the partners are have with mutual consent the agreement can be rewritten and the business can be continued for longer period but if it is not like so the partnership will expire.
Death of Partner: Unfortunately if the partner of a business becomes dead either it is by an incident or by nature the death of the partner will lead the partnership to the end.
Insolvency of bankruptcy of Partners: When the business is feeling and facing loss with its continuity the business cannot be carried for further process as the money or capital is known as the blood of the business that runs in the veins of the business body as in the body it is the blood which runs the human and circulate in the human body similarly it is the money which is circulated in the business.
Retirement or the insanity of the partner: Sometimes people feel tired of being doing hard work for long time to earn money, human needs rest when it reaches to the age say for 70 or 80 years he do not wants to continue the business anymore and takes retirement from doing any business, such kind of activity will also dissolve the partnership.
It is also a fact that when a particular age of a person becomes mature the human can also feel insanity, sometimes in an incident as well these things will also dissolve the partnership.
Breach of Contract: A partnership is carried out with the mutual consent, when two or more people agrees their terms and conditions for a certain activity the partnership takes place but when someone breaches the contract the partnership cannot run for long, the breach of contract can be that a partner is asking for more than its deserving profit and so on.