Dakshayini posted an Question
September 12, 2020 • 02:09 am 30 points
  • UGC NET
  • Commerce

Insolvency of partner

insolvency of partner is how important and UGC net point of view which type of question araise

2 Answer(s) Answer Now
  • 0 Likes
  • 4 Comments
  • 0 Shares
  • Rucha rajesh shingvekar Best Answer

    The Garner vs. Murray rule is applicable in case of dissolution of Firm; The rule says that the loss on account of insolvency of a partner is a CAPITAL loss which should be borne by the solvent partners in the ratio of their capitals standing in the balance sheet on the date of dissolution of the firm.

  • Rucha rajesh shingvekar

    read Garner Vs Murray case.. for detail study

whatsapp-btn

Do You Want Better RANK in Your Exam?

Start Your Preparations with Eduncle’s FREE Study Material

  • Updated Syllabus, Paper Pattern & Full Exam Details
  • Sample Theory of Most Important Topic
  • Model Test Paper with Detailed Solutions
  • Last 5 Years Question Papers & Answers