Question : A minor can be admitted as a partner, only into the benefit of the partnership. Which of the following statement is correct?
Option 1: A minor cannot be admitted as a partner
Option 2: A minor can be admitted as a partner, only into the benefit of the partnership.
Option 3: A minor can be admitted as a partner but his right and liabilities are same as adult partner
Option 4: None of these
Answer (1)
20th Jan, 2024
Correct Answer: A minor can be admitted as a partner, only into the benefit of the partnership.
Solution : A minor is a person whose age is not attained by the majority. A minor can be admitted as a partner, only for the benefit of the partnership. This statement is completely true. Hence the correct option is 2.
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