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Business Studies

Types of Partners , Partnership and Companies

Can a minor b...

Question

Can a minor become a partner of a firm? If so then specify the position of that partner.

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Solution

The Partnership Act 1932, does not permit a minor to become a partner in the partnership firm. However he may be admitted to the benefits of partnership firm with the mutual consent of all the partners. He is not allowed to participate in management but remains liable to outsiders.

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