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Can a minor be admited as …

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Can a minor be admited as a partner in a firm. Give reason

Posted by Rishikaran Sahu 6 years, 2 months ago

CBSE > Class 11 > Business Studies

5 answers

Punit Khandelwal 6 years, 2 months ago

As a minor partner

Punit Khandelwal 6 years, 2 months ago

Yes

Paras Sharma 6 years, 2 months ago

No

Paras Sharma 6 years, 2 months ago

Ni

Yogita Ingle 6 years, 2 months ago

When the inclusion of an individual into the business occurs due to the birth in the Hindu Undivided Family (HUF) is known as Minor. On the other hand, partnership is based on legal contract between two persons who agree to share the profits or losses of a business carried on by them and a minor is incompetent to enter into such a valid contract with others. Hence, a minor cannot become a partner in any firm. However, a minor can be admitted to the benefits of a partnership firm with the mutual consent of all other partners.

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