State five circumstances that may lead to the dissolution of a partnership

• Death of a partner unless the articles of partnership provide otherwise.
• Performance of the undertaking.
• Lapse of time
• Termination at will
• Illegality
• Charging of a partners interest by a court order for a private debt.
• Bankruptcy of a partner unless the partnership deed otherwise provides.
• Mutual consent: if all partners agree.
• Lunacy or permanent insanity.
• Permanent incapacitation.
• Continuous and willful breach of the partnership agreement.
• Firms business can only be carried on at a loss.
• Circumstances are such that it is just and equitable that the firm be wound up.
• Partners conduct or behaviour is prejudicial to the firm.

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