Question

Can a partnership firm have a minor partner?

Answer 1

Partnership with a minor.

1. Minor can be admitted to the benefits of a partnership with the consent of all existing partners. The consent of all the partners is mandatory.

2. There must be a partner in existence before a minor can be admitted to its benefits. Thus, a minor cannot form a new partnership but can be admitted in an existing partnership.

3. There cannot be a partnership consisting of all minors.