Question

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 ?

• A. Malu is not liable as a partner
• B. Malu can become a partner
• C. Public notice is not essential for a minor partner on attaining majority
• D. A suit may be filed by other partners for dissolution of the firm

Answer 1

The correct option is B Malu can become a partner

A Minor can be admitted into the partnership with the consent of all the existing for the benefits of a partnership. On attaining majority, the minor must decide within 6 months whether he would like to become a partner in the firm and give public notice of his decision if he remains silent and fails to give public notice, it will be implied that he has elected to be a partner in the firm.

Hence option (B) is the correct answer.