liabilities of minor with respect of ibaadat?
Answers
The Indian Majority Act, 1875 specifies the age of majority in India i.e 18 years. Even a person short of a day from being 18 years qualifies as a minor. In other words, the statute says that any individual, domiciled in India, who has not attained the age of 18 years is a minor.
In India, a minor cannot be a partner in the partnership firm. Section 30 of The Indian Partnership Act, 1932 contains provisions in this regard.
A minor’s contract is void and not merely voidable. Therefore, a minor cannot be a partner in a firm because the partnership is founded on the basis of a contract.
Though a minor cannot be a partner in a firm, he can nonetheless be admitted to benefits of partnership under section 30 of the said Act.
In other words, he can validly be given a share in the partnership profits. The rights and liabilities of such a minor is governed under section 30 of the Indian Partnership Act, 1932.
A Minor partner has the right to his agreed share of the profits of the firm.
A Minor partner has the right to his agreed share of the profits of the firm.He can have access to inspect and copy the accounts of the firm
He can sue the partners for accounts or for payment of his share but only when severing his connection with the firm, and not otherwise.
On attaining majority he may within 6 months elect to become a partner or not to become a partner if he elects to become a partner then he is entitled to the share to which he was previously entitled as a minor. If he chooses not to be admitted as a partner then he shall not be liable for any acts of the firm after the date of a public notice served to that effect.