Step 1: Organise the grounds as ‘voluntary’ versus ‘involuntary’ dissolution:
Voluntary: partners choose to dissolve (by mutual agreement, or a ‘partnership at will’ partner giving notice). Involuntary: dissolution is forced on the firm by law or circumstance.
Step 2: List the involuntary triggers:
(i) Compulsory dissolution — insolvency of all/all-but-one partners, or the business itself becoming illegal; (ii) Contingency-based dissolution — term expiry, venture completion, a partner's death or insolvency; (iii) Court-ordered dissolution — for reasons like a partner's unsoundness of mind, misconduct, persistent breach of agreement, or the business being workable only at a continuing loss.
Step 3: Add the voluntary route for completeness:
Even without any of the above, partners can simply agree among themselves to wind up the firm, or, if it is a partnership at will, one partner can trigger dissolution unilaterally by giving notice.
Final Answer:
Dissolution happens either voluntarily (by mutual agreement, or by notice in a partnership at will) or involuntarily (compulsory dissolution on insolvency/illegality, on a specified contingency like death or term expiry, or by court order on grounds such as misconduct or incapacity).