Explain the role of garner vs Murray in the dissolution of partnership?

Answer 1

garner vs murray :-

"when there is a Piecemeal distribution of cash under Maximum loss Method,It is reqauer to apply garner vs murray rule."

"when ther is defisit to the partner under Maximum loss Method,It is distributed to the remaining partner in capital ratio."

"According to garner vs murray defisit of insolven partner are distributed to remaining solven partner in capital ratio."

Answer 2

In the dissolution of a partnership, the role of garner and murray is typically related to the distribution of assets, liabilities, and profits among the partners. Garners are responsible for collecting any remaining assets and settling outstanding liabilities, while Murray may oversee the final allocation of profits among the partners according to the partnership agreement or applicable laws. Both play important parts in ensuring a fair and orderly dissolution process.

Answer 3

if one partner has a dbt that they are unable to pay, the debt is shared between othr partners