Question

For a minor to be admitted to a partnership firm _________.

• A. all the partners should agree
• B. there should be $2$ major partners and than a minor can be admitted
• C. minor can not be admitted in a partnership firm
• D. both a and b

Answer 1

The correct option is D both a and b

Indian Partnership Act, provides that though a minor cannot be a partner in a firm,but with the consent of all the partners for the time being, he may be admitted to the benefits of partnership by an agreement executed through his guardian with the other partners .

A minor can only be admitted to the benefits of a partnership if there are already 2 major partners, as a contract cannot take place between 2 minors. In simple words, there should be a partnership between 2 major partners before a minor can be admitted to its benefits.