A minor may be admitted to the benefit of a partnership

Q: Answer-A minor may be admitted to the benefit of a partnership firm :

Section 30 in The Indian Partnership Act, 1932A person who is a minor according to the law to which he is subject may not 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.

firm :

A with the consent of all existing partners Correct Answer Incorrect Answer

B With the consent of majority of partners Correct Answer Incorrect Answer

C By inheritance under a will Correct Answer Incorrect Answer

D By the direction of the court Correct Answer Incorrect Answer

Solution

Section 30 in The Indian Partnership Act, 1932:A person who is a minor according to the law to which he is subject may not 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.

Practice Next

More Banking Related Laws Questions

Where both the parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is__________________
What will be the effect in the case of an alternative promise, where one branch is legal and the other illegal?
Which of the following amounts to breach of trust?
The maximum period of solitary confinement which may be ordered by the court is :
The Fund constituted under the IRDA Act, 1999 shall be only used for meeting_____________
What does FDCA stands for?
The Magistrate may award compensation to persons groundlessly arrested not exceeding:
Ejusdem generis is___
The Maharashtra Rent Control Act came into effect in the year?
Which of the following is an offence against State?

Thank You for posting your query. Please check your email for further guidance

Please Register/Login to Download Question