Can a minor be admitted as a full partner into an existing partnership firm under Section 30 of the Partnership Act?
Answer and explanation
Correct answer: D. No, a minor can only be admitted to the benefits of partnership with all partners consent
- Step 1: Under Section 30 of the Indian Partnership Act, a minor cannot be a full partner because a minor is incompetent to contract.
- Step 2: However, with the unanimous consent of all existing partners, a minor may be admitted to the benefits of partnership.
- Step 3: The minor share is liable for the obligations of the firm, but the minor is not personally liable.
Answer
No, a minor can only be admitted to the benefits of partnership with all partners consent.
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