Explanation:

Section 42 of Partnership Act-  42. Dissolution on the happening of certain contingencies. Subject to contract between the partners a firm is dissolved,- (a) if constituted for a fixed term, by the expiry of that term; (b) if constituted to carry out one or more adventures or undertakings, by the completion thereof; (c) by the death of a partner; and (d) by the adjudication of a partner as an insolvent.