Can a partnership firm have a minor partner? Explain.
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Section 30 of the Indian Partnership Act, provides that though a minor cannot 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 by an agreement executed through his guardian with the other partners.
Answered by
4
Answer:
Section 30 of the Indian Partnership Act, provides that though a minor cannot 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 by an agreement executed through his guardian with the other partners.
A person who is under the age of 18 is regarded as a minor. ... Such a partner, if admitted, is called a minor partner.
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