Section 46 of the Partnership Act. lays down that on tile dissolution of a firm every partner or his representative is entitled as against alia other partners or their representatives to have the property of the firm applied in payment of the debts and liabilities of the firm and to have the surplus distributed among the partners or their representatives according to their rights. This provision has to be strictly followed when the firm is dissolved but the principle lying under this provision has also to be followed where the firm is not to be dissolved and share of the outgoing partner is to be determ,ined
2) On the dissolution of a firm, all the properties belonging to the partnership have to be sold and the sale proceeds after discharging all the partnership debts liabilities, have to be divided among the partners according to their respective shares, and this is the general rule.
3)legal heirs of deceased partner have to file suit for rendition of accounts of the firm
4) also seek injunction restraining new firm from carrying on business in name of old firm