Dissolution of a firm cannot take place in which of the situation-

Dissolution of a partnership firm is governed by the Indian Partnership Act, 1932. Let's examine each situation:

Dissolution by Death - When a partner dies, the firm can be dissolved unless the partnership deed provides for continuation of the firm by remaining partners.

Dissolution by Agreement - All partners can mutually agree to dissolve the firm at any time. This requires consent of all partners.

Dissolution by Court - The court can order dissolution on specific grounds such as insanity of a partner, permanent incapacity, misconduct affecting the business, persistent breach of agreement, or when the business can only be carried on at a loss.

Voluntarily by one partner - A single partner cannot unilaterally dissolve the entire firm. Dissolution requires either mutual consent of all partners, occurrence of specific events (like death or insolvency), court order, or notice in case of partnership at will.

A partnership firm is formed by agreement of all partners, and similarly, its dissolution (except in special circumstances like death, insolvency, or court order) requires agreement of all partners. One partner acting alone cannot dissolve the firm as it would violate the rights of other partners.

The correct answer is Option 4.