Question
When a minor admitted to the benefits of a partnership
attains majority, within how many months must they decide whether or not to continue as a partner and give public notice?Solution
As per Section 30(5) of the Indian Partnership Act, 1932: A minor who was admitted to the benefits of partnership must decide within six months of attaining majority (or of becoming aware that they had been admitted, whichever is later) whether they want to become a full partner. They must also: • Give public notice of their decision within these 6 months. • If no notice is given, they are deemed to have become a partner in the firm after 6 months.
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