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Bond Pairs and Lone Pairs

A minor may b...

Question

A minor may be admitted to the benefits of a partnership with the consent of ___________.

A

Majority partners

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B

All other partners

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C

75 %

partners

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D

Any other one partner when there are four partners

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Solution

The correct option is A All other partners
According to the Partnership Act, 1932 a minor can be admitted as a partner in a partnership firm with the consent of all the partners in the agreement where the minor will share only the profits or gains of the firm and he will have no share in the firms loss.

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Q. Where a minor on attaining majority elects to become a partner, he does not becomes personally liable as other partners to the third parties for all the acts of the firm done since he was admitted to the benefits of partnership.

Can a partner be admitted into the partnership firm with the consent of majority partners?

Q. Balu, Lalu and Kalu are partners in a firm. They admit Malu as a minor partner to the benefit of partnership. Within 6 months of his attaining majority, he fails to give a public notice of his intention that he has become a fullfledged partner. On the other hand all other partners refuse to take him as a partner. In this case, which of the following statement is correct ?

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Bond Pairs and Lone Pairs

Standard XII Chemistry

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